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GM Starts Involuntary Layoffs

General Motors is beginning involuntary layoffs, hoping to complete the latest round of cutbacks before releasing its fourth-quarter earnings on Wednesday.

In all, about four-thousand workers in its North American operations will be terminated, part of a broader series of cuts expected to save G-M billions of dollars and help it prepare for an expected slowdown of the U-S automotive market during the next fewl years.

G-M is cutting blue-collar and white-collar staff, though many of the hourly employees will remain on the job until factories complete the build-out of targeted models.

In all, G-M plans to eliminate six slow-selling passenger car lines that include the Cadillac flagship, the C-T-6 sedan, as well as its first plug-in hybrid, the Chevy Volt.

 

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