GM is going to cut 5,000 jobs in order to keep $13.4 billion in federal aid AKA taxpayer money.
Hang on a second - if the idea is to create 3 million jobs during the Obama first years in office, and if the idea in handing out money is to try to stimulate corporations and keep them afloat, then isn't this job cutting plan contradictory to what we are supposed to be doing. We are supposed to be creating jobs because this is the central point. We are not supposed to be handing out money to cut jobs.
One more point: The people who will be getting laid off at GM are also taxpayers. Those people will be contributing to the bail out of the company they are also getting axed from. Now if I'm one of those people, I am beyond pissed off.
Reuters: GM may cut thousands of salaried workers: report
General Motors Corp. is developing a plan to fire up to 5,000 salaried employees as it tries to cut costs by a March 31 deadline to keep $13.4 billion in U.S. government aid, according to a Bloomberg report.
1 comment:
GM is a dinosaur. I'd say give the $15 billion to the workers for money to live on and to retrain for some other job.
Then, let the company fold. Can you name a decent GM car. Supposedly the Volt is going to be something, supposedly. Splinter it up and bring in a new culture of managers who get it to run the smaller entities and build decent vehicles.
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