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Thursday June 9, 2005 12:00 pm
GM Cuts 25,000 jobs
After losing $1.1 billion during the first quarter of this fiscal year, GM has plans to cut 25,000 jobs by 2008. Rick Wagoner, GM’s chairman and CEO, has justified his plans by stating that it could save the company $2.5 billion a year. It will undoubtedly save the company money, but its competitiveness will not be reaffirmed by cutting jobs. Hopefully the 25,000 jobs figure will be cut, but that’s wishful thinking - good luck to GM and good luck to their employees.
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| New York Daily News
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