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Sunday, February 12, 2012

GM To Cut More Jobs While Chrysler Talks With CAW Stall

04/20/2009  | CityNews.ca Staff

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GM Auto Workers Begin Voting On New Contract

The dire news just won't let up in the auto industry.

General Motors plans to let go of 1,600 workers over the next couple of days as part of cost-cutting and restructuring measures, a top executive with the company warned Monday.

GM North America President Troy Clarke sent an email to workers stating that layoffs were necessary to ensure the company's long-term survival.

The job cuts began last month, as GM slashed 3,400 salaried jobs as part of the 47,000 job cuts it plans to make around the world by the end of the year.

Among those cuts, 4,000 jobs that will be eliminated north of the border including 2,600 in Oshawa, Ont. and 1,400 in Windsor, Ont.

General Motors is functioning on $13.4 billion in U.S. government loans and it has until June 1 to cut its costs and gain concessions from shareholders in order to receive more aid. If not, the automaker could face bankruptcy.

 
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