Magna International Inc. plans to cut 10,500 jobs at General Motors Co.’s Opel unit, Frankfurter Allgemeine Sonntagszeitung reported today, citing an unidentified Magna spokesman.
About 4,500 of the total cuts will be in Germany, the newspaper said in an e-mailed summary of an article to be published tomorrow.
Source: Bloomberg
General Motors Co. will cut about 1,000 salaried jobs this month after 1,900 non-union workers accepted buyout and early-retirement offers to help trim costs.
Source: Bloomberg
General Motors Co. called back 1,350 union workers, its biggest one-time increase in jobs since 2006, as it boosts second-half production, partly in response to demand from the government’s “cash for clunkers” program.
GM is adding shifts and overtime as well as restoring weeks of production at select facilities, as sales top expectations.
Source: Bloomberg
General Motors Co. may have to cut more U.S. hourly jobs after an offer of buyouts and early retirements fell about 7,500 workers short of the reorganized automaker’s target.
The possibility of layoffs was disclosed today by Sherrie Childers Arb, a spokeswoman, in an interview after GM announced that more than 6,000 United Auto Workers members, or 11 percent of the hourly workforce, left the company on Aug. 1.
Source: Bloomberg
About 4,000 more salaried workers at General Motors Corp. will lose their jobs by the end of the year as the automaker continues to downsize.
Source: StarTribune, AP
~News submitted by upthecreek
General Motors has reached a preliminary agreement for the sale of its Hummer brand of large sport utility vehicles and pickup trucks to a machinery company in western China with ambitions to become a carmaker.
G.M. said that the deal would save about 3,000 jobs in the United States, including those at its 153 domestic dealerships, and that Hummer would remain based in the United States.
Source: NY Times
General Motors Corp. (GM), coinciding with its bankruptcy filing Monday, said it will shutter 17 factories and parts centers by the end of 2011. It will also cut an additional 5,000 salaried jobs.
The closures will reduce GM’s U.S. facilities to 33 from 47 by 2012. Between 18,000 and 20,000 workers will be affected by the shutdowns.
Source: CNNMoney
Magna, the Canadian car-parts maker that’s competing with Fiat SpA in its bid for for General Motors Corp.’s Opel. Officials said as many as 11,000 jobs may be lost across Europe, including 2,600 in Germany.
Source: Bloomberg
President Barack Obama said General Motors Corp. will reemerge from financial turmoil a “strong company” and that permitting it and Chrysler LLC to collapse could have triggered an economic depression.
GM got $4 billion in additional assistance to continue operations. Chrysler is reorganizing in a Chapter 11 bankruptcy.
Source: Bloomberg
General Motors Corp (GM.N) and Chrysler aim to drop as many as 3,000 U.S. dealers and are expected to begin sending notifications as early as Thursday.
Source: Reuters
General Motors Corp., already intending to slash salaried jobs by 14 percent globally, is planning a new set of cuts this month that may be similar in severity in some units.
GM has said it will shed 7,000 more union jobs next year than originally planned and close an additional two factories as part of a plan to try to avoid bankruptcy and gain an additional $11.6 billion in U.S. aid.
Source: Bloomberg
General Motors plans to lay off about 1,600 white-collar workers over the next few days, as the auto giant speeds its cost cutting to qualify for additional federal loans.
Source: The Washington Post
General Motors Corp. said Thursday that 195 union workers at its Shreveport assembly plant accepted a buyout from the financially troubled auto giant.
The workers are among 7,500 workers nationwide who decided to take the deal, GM said. That represents about 12 percent of GM’s hourly work force represented by the United Auto Workers.
GM offered $20,000 cash and a $25,000 voucher to buy a car to all of its 62,400 hourly U.S. employees as part of an effort to further trim its blue-collar payroll.
Source: AP, Forbes
General Motors Corp. plans to cut its work force by 47,000 this year and close five more U.S. plants under a viability plan it submitted to the U.S. Treasury on Tuesday as part of its effort to land between $9 billion and $12 billion more in federal loans.
The five plants the struggling automaker plans to close are in addition to the nine plants it previously said it planned to shutter.
GM also plans to reduce its dealerships from 6,246 in 2008 to 4,700 by 2012, and to 4,100 by 2014. Most of this reduction will take place in metro and suburban markets, GM said.
Source: Dayton Business Journal
According to San Jose Business Journal: “With its latest monthly U.S. sales down by more than a third, Toyota Motor Corp. is weighing further production cuts at its North American auto plants.”
“In December New United Motor Manufacturing Inc. , a joint venture between General Motors and Toyota to build vehicles in the United States, announced plans to close down for a couple of weeks over the next two months.”
“In November NUMMI said it would cut a shift from its Tacoma pickup line. The plant has about 4,800 workers.”
According to CNN: “Some lawmakers lashed out at the CEOs of the Big Three auto companies Wednesday for flying private jets to Washington to request taxpayer bailout money. There is a delicious irony in seeing private luxury jets flying into Washington, D.C., and people coming off of them with tin cups in their hand, saying that they’re going to be trimming down and streamlining their businesses,” Rep. Gary Ackerman, D-New York, told the chief executive officers of Ford, Chrysler and General Motors at a hearing of the House Financial Services Committee.”
According to CNN: “The downfall of one of the Big Three could cost as many as 3 million jobs and $60 billion in the first year, report says.”
According to LayOffBlog: “WTF?“
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