GM to 47,000: Have a Nice Life
General Motors announced plans last night to cut 47,000 jobs and close five more plants in the United States as per a viability plan submitted to the US Treasury. The company is currently seeking $17 billion dollars in federal loans.
GM has a current tally of 6,246 dealerships and wants to bring that number to 4,100 by 2014.
Executives better not get massive bonuses as they lay off workers and seek federal aid!