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| Europe |
| General Motors to Lay Off 12,000 Workers in Europe |
| 2004-10-16 |
| The world's largest car maker is getting a little smaller. General Motors says it will lay off 12,000 people from its money losing European operations. That is about one fifth of its European workforce. The cutbacks will hit hardest in Germany, and are part of an effort to trim more than $600 million in costs. GM has reported losses for its European car making operations since 1999. |
| Posted by:Mark Espinola |
#4 money losing European operationsEconomics lesson for the Euros: In the real world (as opposed to yours), companies that lose money scale back their operations (and hopefully reassess what they're doing) or go out of business. Just a little friendly advice for you sophisticates from the American cowboys.... |
| Posted by: Barbara Skolaut 2004-10-16 10:42:13 PM |
| #3 Ford bought Volvo. GM bought Saab. |
| Posted by: jackal 2004-10-16 10:32:40 PM |
| #2 Good - no sense in lowering inverstor profits subsidizing these socialist yoodles..and i always thought it was a bad move for GM to buy volvo car manufacturing. the swedes got the best deal there..got rid of thier money losing volvo car operations and kept their profitable volvo defense operations. |
| Posted by: Dan 2004-10-16 1:42:25 PM |
| #1 Cuts in Sweden too. Any GM factories in France and Spain? |
| Posted by: Kalle (kafir forever) 2004-10-16 8:29:41 AM |