13 Votes

GM Ponders Massive Job Cuts And Complete Production Shut Down

Agent009 submitted on 7/7/2008 Official Bell & Ross Timestamp: 8:51:00 AM

20 user comments | Category: Misc News | Source: | SOURCE: www.reuters.com

No.

1 US automaker General Motors is planning to cut thousands of white-collar jobs and is considering whether it should sell or stop production of more of its brands, The Wall Street Journal said, citing people familiar with the matter.

Both moves are part of a broader re-evaluation of the company's strategy and of its ability to meet an internal projection of returning to profitability in 2010, the people told the paper.

The job cuts are likely to be approved when GM's board of directors meets in early August, the people said. The reductions would be in addition to earlier announced cuts.

Management may also present the board with options for raising additional cash, they told the paper.

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User Comments

Hard to have sympathy for GM (or Ford). They erred on the side of short-term profits while building and selling huge SUVs and pickup trucks because they were fashionable. And now, with no-end-in-sight gas/energy costs rising, GM is scrambling to stay alive. Let's face it: very few people truly need an SUV or pickup. And nobody, but nobody, ever needed a Hummer. GM has brought this on itself. On the other hand, I hope GM figures out a smart strategy. Their demise would be a huge nightmare for the U.S. economy and we don't need that either.
— 204E60 (View Profile)

Posted on 7/7/2008 11:00:09 AM | reply to this comment | Votes: -4

Yes, it will hurt the economy here if GM went under, infact if we do not watch it America is going to become a 3rd world country. If this country doesnt manufacture any products watch out we will have the next depression and this time I do not think we will pull out of it, since the 1st depression we where the inventors and manufactures for most of the world.

So we are in real scary times so if you like your lifestyle you may want to think buying American products and buying into the country that supports your proffessions.
— bestofallcad (View Profile)

Posted on 7/7/2008 10:20:10 PM | | Votes: 1

As a conservative I should say GM should file for bankrupcy already, we are in a open market economy, you produce crap..the market punishes you. There is no place for subsidizing losers or unions.
— EI34 (View Profile)

Posted on 7/7/2008 12:18:27 PM | reply to this comment | Votes: -3

Well this is America and only American buy their own crap (pickup truck and SUV). But now GM, Ford, and Chrysler finally realized even this demographic is disappearing. Is going to get worst before it gets better for US automakers.
— blueshirts0819 (View Profile)

Posted on 7/7/2008 12:40:28 PM | | Votes: -3

your comment is un called for, you had better rethink that or you may not have a choice soon of what car to buy because you will be BROKE since our economy could end up in a depression if the big 3 went out of business.

We may be the ones triing to get into mexico if we do not watch it and start to buy our own countrys manufactures products, Mexico could end up being the land of opprotunitity and if that would be all your fault. If YOU STUPID AMERICANS DO NOT PULL YOUR HEAD OUT OF YOUR A**ES AND SEE WHAT IT WOULD MEAN IF OUR AUTO MANUFACTURES WENT UNDER!!!!!!!!!!!!!!!!

— bestofallcad (View Profile)

Posted on 7/7/2008 10:31:41 PM | | Votes: 1

As I have said before, Schumpeter's Gale of Creative Destruction is in full force.
— Maverick2020 (View Profile)

Posted on 7/7/2008 12:46:55 PM | reply to this comment | Votes: 1

Again, amazina$$hole...

who do you think builds your BMW's? I guess those "bimmers" have 2 inch panel gaps too, huh?

Give it a rest, bigot.
— 09CTSVforMe (View Profile)

Posted on 7/7/2008 2:22:48 PM | reply to this comment | Votes: 3

Did you know that unions in Germany are far worse than American unions? Since you are such a fan of BMW, understand that if BMW used American unions, the price of their cars would be cheaper.

The reason GM goes bankrupt is less about the unions and more about incompetent leadership.
— quizz (View Profile)

Posted on 7/7/2008 2:56:29 PM | reply to this comment | Votes: 4

amazinBimmer YOU MAKE ME SICK!!!!!!!!!!!!!!

ARE YOU STUPID DO YOU REALLY THINK THAT THE FOREIGN AUTO MAKERS ARE NOT MAKING MONEY?????????????

DO YOU GET PD FOR WHAT EVER BUSINESS OR JOB YOU HAVE?????

AND YES IT IS TO BAD THE DAMN UNIONS ARE HURTING THE AMERICAN AUTOMAKER HOWEVER DOES THAT MEAN NOT TO SUPPORT OUR COUNTRYS COMPANY'S I FEEL BAD FOR GM AND COMPANYS LIKE THEM BECAUSE THEY WOULD BE MUCH MORE PROFITABLE IF IT WASNT FOR THE UNION'S.

I got to add to your a** comment. I would rather give our country's company's and our country's workers my money for a Great product, like they do produce, then to give my money to FOREIGN companys and supporting FOREIGN countrys workers. Because when the FOREIGN company do you think when they get our money do you think they are giving it to us to put into our countrys ecomony and our are they supporting American jobs, American spending, did you ever take economics?? when you see GM laying people off that is NOT GOOD FOR ANY ONE THAT LIVES, WORKS, AND MAY OWN A BUSINESS. NO JOBS, MEANS NO MONEY, WHICH = NO SPENDING SO SUPPLY AND DEMAND GO DOWN WHICH = THE ECOMOMY GOES TO SHIT!!!

YOU IF YOU HAVE HALF A BRAIN YOU WOULD REALLY RE-THINK YOUR COMMENTS. AND SINCE I DO NOT THINK YOU DO LET ME SPELL IT OUT FOR YOU, IF YOU LIKE YOUR LIFE STYLE YOU MAY WANT TO THINK ABOUT A AMERICAN PRODUCT NEXT TIME, RATHER THAN A FORIEN COMPANYS BECAUSE ALL YOU ARE DOING IS SENDING MONEY OVER SEAS TO MAKE THERE ECONOMY PROSPER.

— bestofallcad (View Profile)

Posted on 7/7/2008 11:01:39 PM | reply to this comment | Votes: 1

amazinbimmer by the way did you go to school you cannot spell worth of s**t.
— bestofallcad (View Profile)

Posted on 7/8/2008 12:11:35 AM | reply to this comment | Votes: 1

Something to think about: BMW's autoworkers in Germany are members of IG Metall, the largest auto-union in the world.

Unions in and of themselves are not a problem if manufacturers are profitable - hey, wasn't GM and their unions happy during the SUV boom of 2004?
— quizz (View Profile)

Posted on 7/7/2008 3:05:23 PM | reply to this comment | Votes: 4

AMAZINBIMMER your crazy,,,

I have aquestion for you, have you ever worked for either a AMERICAN AUTO PLANT OR A GERMAN PLANT TO KNOW THIS???????????? most likely you havent even been to Germany, so if you have not, how then do you know if that german auto worker does really get fired if they do not perform, and that also being said, how then do you know that, from your quote F**ks at GM's are entitled and do not perform, how would you know this if you have not worked at GM's plants. Most likely you have never even seen either. and I know you ever worked at either????? so I do not understand how you know this???????? so if not your pulling S**t out of your A**, you F**K. Since you are calling fellow Americans, who work hard to make a product, that you slam by calling them F**ks, that make you the BIGGEST F**K.................

— bestofallcad (View Profile)

Posted on 7/7/2008 11:26:44 PM | reply to this comment | Votes: 1

lol last time I checked you could be a bmw technician by going to UTI...wow you really dont know anything amazingflamer. hahahaaha.
— xlr8 (View Profile)

Posted on 7/8/2008 12:47:26 AM | reply to this comment | Votes: 1

Technicians dont build cars, they repair them.
— Rennsport (View Profile)

Posted on 7/7/2008 3:16:29 PM | reply to this comment | Votes: 4

Seriously, the American automakers can't do anything right.

Good bye bye, Ford and GM. :)
— MercedesBenz00Z (View Profile)

Posted on 7/7/2008 3:28:59 PM | reply to this comment | Votes: -2

mercedesbenz007 YOU also MAKE ME SICK!!!!!!!!!!!!!!

I got to add to your a** comment. I would rather give our country's company's and our country's workers my money for a Great product, like they do produce, then to give my money to FOREIGN companys and supporting FOREIGN countrys workers.

Do you think when the FOREIGN company get our money they are giving it back to us to put into our countrys ecomony and are they supporting American jobs, American spending.

Did you ever take economics?? when you see GM laying people off that is NOT GOOD FOR ANY ONE THAT LIVES, WORKS, AND MAY OWN A BUSINESS in this country. NO JOBS, MEANS NO MONEY, WHICH = NO SPENDING SO SUPPLY AND DEMAND GO DOWN WHICH = THE ECOMOMY GOES TO SHIT!!!

YOU IF YOU HAVE HALF A BRAIN YOU WOULD REALLY RE-THINK YOUR COMMENTS. AND SINCE I DO NOT THINK YOU DO LET ME SPELL IT OUT FOR YOU, IF YOU LIKE YOUR LIFE STYLE YOU MAY WANT TO THINK ABOUT A AMERICAN PRODUCT NEXT TIME, RATHER THAN A FORIEN COMPANYS BECAUSE ALL YOU ARE DOING IS SENDING MONEY OVER SEAS TO MAKE THERE ECONOMY PROSPER.

I SERIOUSLY PRAY THAT NOTHING HAPPENS TO THE AMERICAN AUTO MAKERS, Because if it does watch out we will be going into a depression that I do not think we can ever pull out of, since this countrys manufactures are becomming rare and more rare, and when this country has no manufactureing left it will not be the land of opprotunity like it was. If we do not start now if it is not to late allready our kids your kids are in reall trouble so I hope you have alot I mean alot of money saved, because this country very could see a Black Tuesday and it could be worse than the depression that we will not be able to pull out of.

So if your choice is to keep buying forien products and putting the American companys down YOU are responsible for your own financial demise and YOUR also responsible for this countrys financial demise.

It is up to you. Be the Strong America that we have always been or see tough economic times.

So while you drive your Mercedes remember you gave many Germans jobs, and think about this when you see another American lose there Job you did it, so I really hope that Mercedes makes you happy because you are the cause of another American to lose their job.
— bestofallcad (View Profile)

Posted on 7/8/2008 12:09:56 AM | | Votes: 1

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GM Ponders Massive Job Cuts And Complete Production Shut Down

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