General Motors CEO Fritz Henderson revealed late last week that more job cuts were on the way for the Detroit-based automaker, with more details on that plan being announced today. The latest job cuts are intended to help the ailing automaker reach its goal of long-term viability by June 1.
According to The Detroit News, GM will cut another 1,600 workers during the next few days. Although no further details were given, it appears as though all 1,600 job cuts will come from GM’s salaried workers.
In all, GM plans to cut 47,000 jobs by the end of 2009, including the 3,400 salaried job cuts that began last month.
The latest job cuts are a part of GM’s revised viability plan, due to the U.S. government by June 1. If GM fails to meet that deadline, President Obama could force the automaker to payback its $13.4 billion in government loans, essentially forcing GM into bankruptcy.
