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
The closing of General Motors‘ Pontiac Assembly Center is about to cost up to 180 Flint truck builders their jobs.
GM confirmed Thursday that up to 180 employees at Flint Truck Assembly Plant will be displaced by Pontiac workers with enough seniority to bump them from their jobs.
Source: MLive.com
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
Some 21,000 positions across Europe may be eliminated if Opel is sold to Magna International Inc., the Canadian car-parts maker that was picked by Germany as its preferred bidder, Bild Zeitung reported, citing a letter from Opel’s works council based in Ruesselsheim, Germany.
Source: Bloomberg
Chrysler Group LLC will shut a Dodge Ram pickup factory in Missouri on July 10 while General Motors Corp. will close a sport-utility vehicle plant by 2012 as they shrink operations under U.S.-backed restructuring plans.
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 Corp., which filed for bankruptcy last week, plans to cut a shift from its Wentzville[,MO] plant and lay off 887 workers or nearly half its hourly work force there.
The job cuts, which will occur Aug. 10, will affect 887 of the 1,900 hourly workers at the plant, according to Chris Lee, a GM spokesman.
Source: St. Louis Business Journal
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
IT jobs are at risk as more than a fifth of General Motors workers face losing their jobs by the end of the year as the company restructures, GM CEO Fritz Henderson said today.
Speaking in a news conference, Henderson said job cuts across the board would be around 22% of GM’s 235,000 workers, but that the attrition rate among managers would be higher.
Source: Computer Weekly
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
Fiat SpA (F.MI) said Friday its offer for General Motors‘ (GM) Adam Opel AG unit would result in less than 10,000 job cuts, meaning the reduction of workers is similar to that of its main challenger, Magna International Inc.
Source: CNNMoney
According to TheEconomicPopulist blog: “[..]The labor force in Michigan is 4.84 million. Unemployment is currently at 12.6%. 609,000 are currently out of work, that will increase to 1,698,000. Leaving an eye-popping unemployment rate of 35.1% [..]”
~News submitted by upthecreek
General Motors Corp. will cut an additional 7,000 to 8,000 factory jobs in the United States, kill the Pontiac brand and shed 2,600 dealers by 2010 under a revised business plan developed with the Obama administration and announced today.
The new job cuts bring the total number of hourly jobs eliminated under GM’s plan to 21,000. GM said additional cuts among salaried workers would be expected, but did not give a specific target.
Source: Detroit Free Press
General Motors Corp., shuttering U.S. plants in a bid to avoid bankruptcy, is “likely” to build a new factory in China on surging demand.
“Operations in China are profitable and in the future China can finance its own growth,” Nick Reilly, the company’s Asia-Pacific president, said at the Shanghai auto show today. He didn’t give a timeframe for the new plant.
“We won’t get money out of the U.S. into China,” Reilly said. Still, “we don’t need to because we have a very good balance sheet.”
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
The 7,631 United Auto Workers who accepted early retirement and buyout offers this week from General Motors Corp. — more than 53 percent of whom work in Michigan — will make room for laid off workers to reclaim their jobs.
But GM likely will not be able to hire lesser-paid workers until the worst sales market in 27 years improves.
“We certainly hope to be able to realize some of that (savings) going forward, but clearly the evaporation in sales put a hold on that,” GM spokesman Tony Sapienza said. “When the dust settles, we’ll still have people laid off, but we’ll be able to bring a lot of laid off people back to work.”
Source: The Detroit News
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