6.07.2005

GM Clearly Really Hates America

GM to close more plants, cut 25,000 jobs... uh, that aint good:

General Motors Corp. expects to close more assembly and component plants over the next few years, slashing about 25,000 manufacturing jobs, as it battles high costs and shrinking market share, the company's chief executive said on Tuesday.

Chairman and CEO Rick Wagoner also told the annual meeting that GM, which lost $1.1 billion in the first quarter, expects to save $2.5 billion a year from the cost-cutting measures.
And what is one of those leading 'high costs'? Hmmmm, let us think here... oh yeah: HEALTHCARE (as noted on NPR).

Here's to the folks losing their jobs... do you think top executives are giving anything up? Taking a pay in cut? In bonuses? Cutting back on their healthcare plans? Nah, we didn't think so either...

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