And The Layoffs Begin at GM!
The General Motors layoffs have begun as the company began slashing white-collar jobs, according to the New York Post.
This morning (Tuesday), GM told 160 people at its manufacturing engineering operation in Warren, Michigan that they would be laid off as of April 1st. This first round of cuts is the beginning of 3,400 salaried layoffs the company has planned in the United States and part of the 47,000 worldwide cuts GM wants to have by year’s end. GM also plans to cut 18,000 blue-collar workers by the end of 2009.
GM has been living off of $13.4 billion in government loans amidst requests for another $16.6 billion dollars to maintain viability and stay afloat.
Hooray for layoffs!