GM to Cut 25,000 Jobs, Close Plants

[Guest chevydeerhunter]

Tuesday, June 07, 2005

 

 

 

WILMINGTON, Del. — General Motors Corp. (GM) plans to eliminate 25,000 jobs in the United States in the next few years by closing additional assembly and components plants, part of a plan to revive its struggling North American operations.

 

Speaking to shareholders at GM's 96th annual shareholder meeting in Delaware Tuesday morning, Chairman and Chief Executive Rick Wagoner (search) said the capacity and job cuts will generate annual savings of roughly $2.5 billion.

 

Wagoner revealed the cutbacks as he laid out a four-step strategy to revive GM's North American business, the biggest and most troubling part of the world's largest automaker.

 

Wagoner focused on priorities for clarifying the role of each of GM's eight brands, intensifying efforts to reduce cost and improve quality and continuing to search for ways to reduce skyrocketing health care costs.

 

He noted that the company's current $1,500 per worker health-care expense puts GM at a "significant disadvantage versus foreign-based competitors," and said GM has conducted "intense discussions" with the unions about how to reduce health-care costs.

 

General Motors shares rose 47 cents, or 1.6 percent, to $30.89 on the New York Stock Exchange (search).

 

Billionaire investor Kirk Kerkorian's (search) offer to purchase 28 million GM shares at $31 apiece, boosting his stake to about 9 percent from 4 percent, expires later today.

 

In the cost-reduction area, Wagoner said it was vital for the company to improve efficiency at its manufacturing plants. He said that plant closings and idlings in recent months have reduced assembly capacity in North America from 6 million in 2002 to 5 million by the end of this year.

 

It was not immediately known which GM plants would be closed.

 

"Let me say up front that our absolute top priority is to get our largest business unit back to profitability as soon as possible," Wagoner said.

 

Messages were left Tuesday morning with the United Auto Workers (search) and a GM spokeswoman for manufacturing issues.

 

GM has already closed several facilities this year. The company shut a factory in Linden, N.J., in April and a factory in Baltimore in May, affecting around 2,000 employees. The company also closed two plants in Lansing, Mich., last month, although those 3,500 employees are expected to find work at other GM facilities in the city.

[MS3DALE]

Man,Just more bad news from GM that we don't need.

My question.....Whens it going to end? It seems like all we ever hear is....."this plants closing" or "we're laying off"

I hope it gets better soon

[99silveradoz71]

The Chevy dealer that was conveniently a block from work just moved to their new location about a week ago. It'll be interesting to see how all these changes impact them, as they're Chevy only there.

[Support China]

Guess what, since you seem to not be able to pay attention to repeated warnings to not post the same 'stuff' over and over again...your posting has been suspended...Thanks and please don't come again...

 

-sincityZ71

 

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GM Plans to Cut 25,000 U.S. Jobs by 2008

 

WILMINGTON, Del. - General Motors Corp. plans to close plants and eliminate 25,000 manufacturing jobs in the United States by 2008 in an attempt to restore profitability at the world's largest automaker, its chairman said Tuesday as he fended off calls for his resignation.

ADVERTISEMENT

 

Chairman and Chief Executive Rick Wagoner told shareholders at GM's 97th annual meeting in Delaware that the capacity and job cuts should generate annual savings of roughly $2.5 billion. About one out of six jobs in the United States will be eliminated.

 

The United Auto Workers union responded that GM's ability to make the cuts will depend on worker attrition rates and its contract negotiations with the union. GM's UAW contract expires in 2007.

 

"The UAW is not convinced that GM can simply shrink its way out of its current problems. What's needed is an intense focus on rebuilding GM's U.S. market share, and the way to get there is by offering the right product mix of vehicles with world-class design and quality," said UAW Vice President Richard Shoemaker, who directs negotiations with GM.

 

 

MY OPINIONS & COMMENTS:

I'm disgusted with GM. They make me sick, All this AMMMerican REVVVVVVVOLution BS, COME ON ALLREADY!! DO THEY THINK WE ARE ALL STUPID? Gee wiz, why has gm INVESTED BILLIONS IN CHINA? Do you think that maybe maybe its because thay can now have chineze slaves make parts for your beloved AMERICAN TRUCK for freakin 30 cents an hour??

 

Yea its true, eventhough the company sure likes to sell trucks in the good old USA, make no mistake when it comes to employing american manufacturing people in the US... forget about it! Of coarse, to GM that would be it far too expensive. I thought it was mostly machines making the cars now anyway? what gives?

 

FUN FACT:) Did you all know that good old gm and ford literally forced one of the last american made aluminum wheel manufacturs to close down his 3rd generation American wheel manufacuring plant and lay off thousands of US employees because good old GM wanted to save some $$$ on their wheels? And when I say forced, I MEAN FORCED this company WAl-MART STYLE kicking and screaming to close shop and leave to china...just perfect.

Well at least the well funded and fake "american feel good" propaganda commercials are patroitic! HEY, BUT DON"T WE ALL NOW GET THE GM EMPLOYEE DISCOUNT NOW... JUST LIKE ALL THE OTHER.... oh WAIT there all freaking losing there jobs.... how ironic!

(well enenthough they'll all soon be unemployed, they will still be eligable for the new employee discount like every other unemployed american who is in the market to buy an new truck)

BOTTOM LINE: IF YOU BUY A GM YOU ARE NOW JUST SUPPORTING CORPORATE GREED and CHINA. THAT SOUNDS GREAT DOSEN'T IT? HURRAY FOR US JOBS

[asilverblazer]

 

I can't buy anything, now all my crap comes from china...

[MCourson]

Wow, all this hating on China and "greedy" corporations....

 

Heres a good book...

An Inquiry into the Nature and Causes of the Wealth of Nations By Adam Smith

[R Dogg 56]

Truth7495, is that you??

[Guest chevydeerhunter]

Guess what, since you seem to not be able to pay attention to repeated warnings to not post the same 'stuff' over and over again...your posting has been suspended...Thanks and please don't come again...

 

-sincityZ71

 

------------------------------------------------------------------------

GM Plans to Cut 25,000 U.S. Jobs by 2008

 

WILMINGTON, Del. - General Motors Corp. plans to close plants and eliminate 25,000 manufacturing jobs in the United States by 2008 in an attempt to restore profitability at the world's largest automaker, its chairman said Tuesday as he fended off calls for his resignation.

ADVERTISEMENT

 

Chairman and Chief Executive Rick Wagoner told shareholders at GM's 97th annual meeting in Delaware that the capacity and job cuts should generate annual savings of roughly $2.5 billion. About one out of six jobs in the United States will be eliminated.

 

The United Auto Workers union responded that GM's ability to make the cuts will depend on worker attrition rates and its contract negotiations with the union. GM's UAW contract expires in 2007.

 

"The UAW is not convinced that GM can simply shrink its way out of its current problems. What's needed is an intense focus on rebuilding GM's U.S. market share, and the way to get there is by offering the right product mix of vehicles with world-class design and quality," said UAW Vice President Richard Shoemaker, who directs negotiations with GM.

 

 

MY OPINIONS & COMMENTS:

I'm disgusted with GM. They make me sick, All this AMMMerican REVVVVVVVOLution BS, COME ON ALLREADY!! DO THEY THINK WE ARE ALL STUPID? Gee wiz, why has gm INVESTED BILLIONS IN CHINA?  Do you think that maybe maybe its because thay can now have chineze slaves make parts for your beloved AMERICAN TRUCK for freakin 30 cents an hour??

 

    Yea its true, eventhough the company sure likes to sell trucks in the good old USA, make no mistake when it comes to employing american manufacturing people in the US... forget about it! Of coarse, to GM that would be it far too expensive. I thought it was mostly machines making the cars now anyway? what gives?

 

FUN FACT:) Did you all know that good old gm and ford literally forced one of the last american made aluminum wheel manufacturs to close down his 3rd generation American wheel manufacuring plant and lay off thousands of US employees because good old GM wanted to save some $$$ on their wheels? And when I say forced, I MEAN FORCED this company WAl-MART STYLE kicking and screaming to close shop and leave to china...just perfect.

Well at least the well funded and fake "american feel good" propaganda commercials are  patroitic!  HEY, BUT DON"T WE ALL NOW GET THE GM EMPLOYEE DISCOUNT NOW... JUST LIKE ALL THE OTHER.... oh WAIT there all freaking losing there jobs.... how ironic!

(well enenthough they'll all soon be unemployed, they will still be eligable for the new employee discount like every other unemployed american who is in the market to buy an new truck)

BOTTOM LINE: IF YOU BUY A GM YOU ARE NOW JUST SUPPORTING CORPORATE GREED and CHINA. THAT SOUNDS GREAT DOSEN'T IT?    HURRAY FOR US JOBS

 

<{POST_SNAPBACK}>

 

 

 

Did I miss something?