GM and Chrysler Submit Updated Restructuring Plans; Up to $18.6B More Needed; Outlines for Product Plans
Green Car Congress
FEBRUARY 18, 2009
Following the steep decline in US industry sales in December 2008 and January 2009, GM responded by further lowering its forecast for 2009 US industry sales to 10.5 million units globally) for viability planning purposes. GM will eliminate 47,000 jobs—37,000 hourly and 10,000 salaried—globally, including 20,000 workers in the US.
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