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Posts Tagged ‘layoff’

G.M. To Cut 47,000 Jobs While Chrysler Will Dump 3,000 Positions

Posted by truthpills on 2009/02/19

Tuesday February 17, 2009
CityNews.ca Staff

One thing is certain about the plan top officials at GM and Chrysler have come up with for restructuring and staving off bankruptcy – it’s going to come with a huge price tag both monetarily and from the workforce.

The two companies had until Tuesday to justify the multi-billion dollar bailouts being given to them in the U.S.

And late in the day, General Motors delivered the news that will make auto towns like Oshawa and St. Catharines cringe. The world’s biggest car company says it will need between US$16.6 and $30 billion in federal aid to get back on all four wheels – and it will have to shed a startling 47,000 positions to do it. It will also close five plants but won’t say which ones.

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