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General Motors Corp. is cutting 25,000 jobs and closing an unspecified number of plants over the next 3-1/2 years, CEO Rick Wagoner told shareholders Tuesday, as the world's largest automaker struggles to stem huge losses.

Wagoner, who is also chairman of GM, did not offer more details other than to say the troubled automaker needs to cut capacity by the end of 2008.

The 25,000 jobs represent about 17 percent of GM's U.S. work force, which includes 111,000 unionized employees and another 39,000 salaried staff.

In fact a drop of 25,000 U.S. jobs for GM by the end of 2008 is not much steeper than the normal attrition rate the automaker's seen in recent years.

I heard howard stern's sidekick Robin this morning that they are shipping the jobs to china, and that they are losing money on every car they send off from the factory. I'm surprised it wasn't Chyrsler that was firing 25000 people.

 

GM needs excitement in their cars. Daimler Chrysler was successsful this year with their  Chrysler 300 and Dodge Magnum. Why cant Gm do something like that? Chevrolet has too may suv's they really dont need  Chevrolet Suburban & Tahoe   haha bad move..... why cant they have one ultimate suv. Pontiac needs to lower the price of the GTO and make  the styling more agrresssive just like the 2006 Dodge Charger. Buick needs to release the Vlite concept, I can see that car luring younger drivers to the Buick dealerships. Hummer needs to solve the H2 problem with the gas in order to increase sales.
 

longbluesquid wrote:

GM needs excitement in their cars. Daimler Chrysler was successsful this year with their Chrysler 300 and Dodge Magnum. Why cant Gm do something like that? Chevrolet has too may suv's they really dont need Chevrolet Suburban & Tahoe haha bad move..... why cant they have one ultimate suv. Pontiac needs to lower the price of the GTO and make the styling more agrresssive just like the 2006 Dodge Charger. Buick needs to release the Vlite concept, I can see that car luring younger drivers to the Buick dealerships. Hummer needs to solve the H2 problem with the gas in order to increase sales.

It's the second time in a year they did that, first with the G6.  At least they're taking the time to fix what's instead of launching something on time then having to recall it later.