Monday, November 21, 2005

General Motors Cutting 30,000 Jobs

Just in case you're waiting for that bond to mature, you may want to cash it in early. GM is cracking up big time, slashing approximately nine percent of its worldwide employee rolls. The United Auto Workers calls the move unfair and unfortunate.

"Personally, I've been speculating this would come down the pike for a while, and I've been trying to look for work elsewhere," said Bob Tyrrell, 45, who has worked the second shift at the Oklahoma City plant since 1979. "I didn't think it would be this quick or this drastic."

Mike O'Rourke, president of United Auto Workers Local 1853 in Spring Hill, said GM leaders need to change approaches to be successful. "They need to design cars that sell," O'Rourke said.

If GM is in huge financial trouble, maybe it's better they do this now instead of leaving every employee holding the bag at the bitter end. I don't think this is good news by any stretch, but if it means the rest of the GM community keeps its livelihood, maybe it's necessary. It's not like the company is doing very well these days.


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