General motors, is now facing bad times very severely. It is one of the three biggest auto manufacturers in US. But it is now in the state of going bankrupt.
General Motors was hit very severely by the economic crisis. In fact, it is the entire auto industry that is suffering and the conditions are still in declining position.
And it was a big blow to the industry when they saw decline in auto sales this November, to a 26 year low.
General Motors went to its usual Lay off spree, but still didn’t rejuvenate its position. The layoffs number is a hefty figure and is going to contribute to the new Jobless stats. This is not as much surprising, as it became common for General Motors to slash their Employees whenever they saw that they had bad times.
As all the auto makers have urged for a $34 billion rescue, the General Motors itself need around $14 billion for itself.
General Motors was hit very severely by the economic crisis. In fact, it is the entire auto industry that is suffering and the conditions are still in declining position.
And it was a big blow to the industry when they saw decline in auto sales this November, to a 26 year low.
General Motors went to its usual Lay off spree, but still didn’t rejuvenate its position. The layoffs number is a hefty figure and is going to contribute to the new Jobless stats. This is not as much surprising, as it became common for General Motors to slash their Employees whenever they saw that they had bad times.
As all the auto makers have urged for a $34 billion rescue, the General Motors itself need around $14 billion for itself.
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