GM Fires 30,000, shuts 12 plants

In its latest bid to stave off bankruptcy, GM fired 30,000 workers or approx. 9% of its global workforce yesterday. The company has lost almost $5 billion this year alone. Experts believe that GM will leap off the bankruptcy cliff by Christmas. GM stock dropped 47 cents to 23.58 in heavy trading. Why have they lost so much money? How will effect the rest of the market? We can discuss it at our next board meeting.


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