10,000 Jobs - Is It Enough For G.M. To Survive?
There are a few points that must be asked when we read that GM is now going to cut 10,000 salaried jobs. First of all, if the company has been losing $2B every month for the last several years, why in the world has this been so long in coming? Do we really need public outcry and shaming by congress and the media to make the execs realize they might be a little top-heavy?
Additionally, why are only 3,500 of those jobs being cut in the US? Where are the jobs being cut and what are the resulting savings? If the US government is going to bail out the auto industry, we better be getting some full disclosure on what this means, what it will result in, and the long-term outlook of the company after making the significant changes.
GM's detailed plan for survival is due next week. Since my money is being used to fund this buyout, I expect to see a pretty strong business case come February 17th.
Additionally, why are only 3,500 of those jobs being cut in the US? Where are the jobs being cut and what are the resulting savings? If the US government is going to bail out the auto industry, we better be getting some full disclosure on what this means, what it will result in, and the long-term outlook of the company after making the significant changes.
GM's detailed plan for survival is due next week. Since my money is being used to fund this buyout, I expect to see a pretty strong business case come February 17th.
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