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Friday, January 27, 2006

GM Loses Almost $9 Billion in 2005, Warns of More Cuts

As if the news from the auto industry was not bleak enough, the Lansing State Journal reports that General Motors announced yesterday that it lost $4.8 billion in the fourth quarter that ended in December, and $8.6 billion for all of 2005 on revenue of $192.6 billion. GM has hinted that the jobs bank, where laid off workers continue to receive full wages and benefits, could be targeted for cuts.
Also see GM warns of more cutbacks in the LSJ

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# posted by farlane @ 9:57 AM
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