GM buyout offers falls short of goal, layoffs loom

GM buyout offers falls short of goal, layoffs loom

news.yahoo.com

About 6,000 General Motors Co. blue-collar workers have taken the latest round of early retirement and buyout offers, but it fell short of the company's goal, meaning more layoffs are likely. GM has about 54,000 factory workers and wants to end the year with 40,500, a cut of about 13,500. That means that about 7,500 too few workers took the offers, setting the stage for more layoffs.

(visit the link for the full news article)

So even nationalizing GM the government is going to close at least 15 U.S. factories, and 22,000 workers will be laid off by 2012. But we know by the way jobs ar ebeing lost that it is going to be much worse than that.

Meanwhile President Obama claimed 600,000 jobs would be saved, Americans have been losing 500,000+ jobs a month for several months, and we will continue losing jobs.

If this trend continues we could even see unemployment in the 40% -50% or possible worse. Let's just hope it doens't get to that.

news.yahoo.com
(visit the link for the full news article)

Originally posted by ElectricUniverse

Meanwhile President Obama claimed 600,000 jobs would be saved, Americans have been losing 500,000+ jobs a month for several months, and we will continue losing jobs.

If this trend continues we could even see unemployment in the 40% -50% or possible worse. Let's just hope it doens't get to that.

news.yahoo.com
(visit the link for the full news article)

Just wait, Obama will claim that if it weren't for him, 1,100,000 jobs would have been lost. He just "saved" those 600,000 jobs from being lost as well.

Spoke to a friend in Illinois yesterday, he and his sister (and their families)are leaving that state because unemployment is already in the teens.

Of course Illinois is where Obama was from, and a peoples paradise of high taxes, gun control, and a liberal dreamland.

Caterpillar, in Illinois, is also closing TWO plants and moving them to Texas, because of taxes and unions (UAW) is sucking them dry.

reply to post by ElectricUniverse
GM only employs 50,000 blue collar workers in the US? I'm stunned, just thought it would be in the hundreds of thouusands.

Originally posted by ufoorbhunter
reply to post by ElectricUniverse

 

GM only employs 50,000 blue collar workers in the US? I'm stunned, just thought it would be in the hundreds of thouusands.

It was.

Until they replaced people with robots.

Then shipped most of the people jobs to China and Mexico.

The US Government plans to send what's left over seas as well, meaning GM is likely to employ far less than the 50k that are left.

The majority of US workers tied to the Auto industry work for Parts manufacturers... or, ironically, foreign car companies, like Honda and Toyota who continue to build in America. Want to support non-Union Auto workers??? Buy a Honda/Toyota!

Originally posted by ElectricUniverse


So even nationalizing GM the government is going to close at least 15 U.S. factories, and 22,000 workers will be laid off by 2012. But we know by the way jobs ar ebeing lost that it is going to be much worse than that.

Meanwhile President Obama claimed 600,000 jobs would be saved, Americans have been losing 500,000+ jobs a month for several months, and we will continue losing jobs.

If this trend continues we could even see unemployment in the 40% -50% or possible worse. Let's just hope it doens't get to that.

news.yahoo.com
(visit the link for the full news article)

I don't think it would get as bad as 40%-50% but I don't think 20% is out of the question.

In order for "Govenment Motors" to be competitive in a global market those auto manufacturing jobs are being shipped overseas to China, Korea and Mexico. Those 22,000 layoffs will be permanent, those jobs will not come back to the USA. Isn't globalism great !!!

reply to post by mikerussellus

Just wait, Obama will claim that if it weren't for him, 1,100,000 jobs would have been lost. He just "saved" those 600,000 jobs from being lost as well.

That's the problem with claiming that he'll save jobs. There is absolutely no way you could ever prove that jobs were "saved". It's just another Obama-speak, translation lie. Obama continues to systematically destroy what is left of the US economy. The US is quickly becoming a third-world nation.