GM's Wagoner says automaker to cut U.S. workforce again in 2005

[Judi Lynn]

GM's Wagoner says automaker to cut U.S. workforce again in 2005
1/10/2005, 5:21 a.m. ET
The Associated Press

DETROIT (AP) — General Motors Corp. plans to reduce its U.S. workforce by about 7 percent for a fourth consecutive year in 2005, chairman and chief executive Rick Wagoner said.

That means about 8,000 hourly and salaried positions at the world's largest automaker will be eliminated through attrition and retirement over the next 12 months.

Struggling to trim costs in the face of rising health care expenses and other factors, GM each year since 2002 has cut about 2 percent to 3 percent of its salaried workforce, 5 percent to 6 percent of its hourly workforce and about 10 percent of its contractors.

"That's about what it was in 2004. We're not exactly sure about 2005, but we don't think it will be any different than last year, or what it has been in 2002, 2003 and 2004," Wagoner told the Detroit Free Press during an interview Sunday at the North American International Auto Show. "It works out so, that for example, we lose like 1,000 jobs on the salaried side."
(snip/...)

http://www.mlive.com/newsflash/business/index.ssf?/base/news-21/1105352941272460.xml&storylist=mibusiness

[DRoseDARs]

1. All aboard! Next stop: Bush's Booming Economy(TM)...

...Please have your food stamps ready for the conductor.

[Nussbaum]

3. No worries

I heard the army is recruiting.

[KlatooBNikto]

4. Wait.Rick Wagoner will be selling his armor less Humvees to the

Army too.Made in China, of course.

[BiggJawn]

5. It's the Bush Economic Miracle, people!

Unfortunately, it's happening in China, not here.

Well, just ask any minimum-wage Rush-bot, those lazy over-paid Union members desreve to lose their plum jobs...<sarcasm>

[FormerDittoHead]

8. So THIS is what happens when we give tax breaks to the Rich!!!!???

They shouldn't even teach Bush economics in the same class as "folklore"..

At least much folklore has some basis in truth...

[KlatooBNikto]

2. After he cuts out his entire workforce, he will retire with a golden

parachute worth Gazillion dollars and advise the corporation to import entire cars from China and sell it at Wal Mart.By the way, that advice will cost the corporation another few hundred million bucks.The whores at the business news will say he is the second coming of Jack Welch as if the first coming wasn't enough.

[Octafish]

6. What's good for GM is good for America.

http://www.tlio.demon.co.uk/socal.htm

[hatrack]

7. Don't worry! GM's amazing hydrogen cars will revitalize the US economy

Sometime around 2020 or so . . .

[struggle4progress]

9. kick for W's economic miracle