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GM to lay off 30,000 people, close 12 plants. Wallstreet still not happy as apparently it is not enough......


Closing palnts and laying off employees will not produce good, desirable products. Let's hope there is still management. Or I would rather see a good, farseeing leadership......
 

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I heard (rumor) that wall st. is worried that workers may strike as a result of the announcement. The strike would sink GM's cash holdings quickly and put them in a worse situation, since they are trying to boost cash flow and have more cash. That is also why GM is looking sell a stake in their financa company (GMAC).

GM does have a lot of fat and fixed costs they need to cut. In a way it's about time they did it. Unfortunately at the cost of jobs. But I read they expect most of the job cuts to come from attrition, which is good.... fewer pink slips.
 
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