General Motors has warned it may have to make more cuts after the company revealed a massive $8.6-billion loss for 2005 on Thursday. GM’s loss was larger than expected, and if not for the company’s $23.5-billion loss in 1992 — largely caused by changes in accounting rules for health care costs — the 2005 loss would have been the worst among automakers, The Detroit Free Press says. Chief Executive Officer Rick Wagoner said the automaker may have to cut beyond the health care concessions reached with the UAW in October, and November’s plan to idle a dozen plants and cut 30,000 jobs.
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