GM set to begin cutting hundreds of salaried jobs

[UpInArms]

http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-03-27T213709Z_01_N27276942_RTRIDST_0_AUTOS-GM-JOBS.XML

DETROIT, March 27 (Reuters) - General Motors Corp. (GM.N: Quote, Profile, Research) is expected to start cutting thousands of U.S. salaried workers on Tuesday as part of a sweeping restructuring aimed at stemming losses and market share, a source close to the situation said on Monday.

Tuesday's cuts will be in the engineering division, the source said. He also said reductions in sales and marketing staff would be announced in April.

The job cuts will be the first of those announced last November, when the struggling automaker said it would let go of 7 percent of its 36,000 white-collar U.S. employees this year.

A GM spokesman declined comment, saying the company had "nothing to announce or confirm."

<snip>

The atmosphere at GM's Warren Technical Center in Michigan was tense on Monday, as engineers remained uncertain about their future, the source said. Employees have been told to cancel vacations scheduled on Tuesday, he added.

...more...

[DUHandle]

1. Professional Grade

layoffs.

[AndyA]

2. But Bush says the economy is doing great...

How can that be with so many companies laying off jobs here in America? Do you suppose he's factored in the hiring being done OVERSEAS to come to his brilliant conclusion?

[aden_nak]

3. I don't suppose he can SPELL "overseas".

[tabasco]

7. Bush is a "citizen of the world," like the multinational corps.

These people have loyalty to no nation.

[sutz12]

4. I wonder how many of these jobs could be maintained....

for the $10 million bonus that some Board member/CEO is planning on receiving for this?

[DUHandle]

5. Hmmm.....

Environment/Energy
Prius Marathoners Top 100 MPG
Discussion started Mon Mar-27-06 02:41 PM by Beaverhausen

[Coastie for Truth]

6. IIe genki desu ka? Hai genki desu!

In the words of an automotive engineer--

Domoo arigatoo gozaimasu.

<>

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I lived in Michigan and worked for a vendor that got bought by GM
:cry:

[mikeytherat]

8. The headline says HUNDREDS of jobs, but the article says THOUSANDS

Now, why would they do that?

Spin, baby, spin!

mikey_the_rat

[RUMMYisFROSTED]

14. JPMC.

Jobs/Protesters Math Calculation.

x*.20=n

[warrens]

9. Psst, wanna buy a cheap house?

Prices were already headed down; this should send them plummeting.

I have a great idea, GM. How about making some decent cars people want to buy, instead of trying to make us buy crap SUVs that have enormous profit margins? You know, sorta like Toyota and Honda do.

[Blue_Tires]

11. in their defense

the Corvette is one hell of a car....but then i'm biased....

but back to the topic, this is just another move on the chessboard...The U.S. automakers would love nothing more than to move as much of their operations to asia as they can...

[merwin]

10. In a company with common enginnering flaws, they cut the enginnering

division :-)

[Coastie for Truth]

12. Wakarimasen (I don't understand)

Gaijin? (Foreigners - not Japanese)

[JCMach1]

13. Lesson 1 in the Global Market: Engineers are a dime-a-dozen

For the price of 1 American Engineer, you can hire a team or more of Indian Engineers depending how greedy you are). They are usually just as well trained and quite happy to work for a US multi-national.

Average salary $400-1000 per month depending on how good you are... Some managers might make more than that.

[Bozita]

15. "Employees told to bring their notebook computers on Tuesday" - heard on

... Detroit radio earlier today.

[ladjf]

16. They need to hire some great engineers so that they can

build a car that people will buy. The profits will follow.