The developing story of eco-cars and the shifting auto market got even more fascinating today when GM announced draconic layoffs. Reminds me of the old curse “may you live in interesting times”. The former leaders Ford and GM might be wondering just how interesting it’ll get and just how much they can take.
General Motors Corp. said Monday it would cut 30,000 hourly jobs and close or scale back operations at about a dozen U.S. and Canadian locations in a bid to save $7 billion a year and halt huge losses in its core North American auto operations.
Full story here.