General Motors (GM) Lets Ax Fly: 5,000 Gone

General Motors’ (GM) desperate restructuring plan is well underway. Today, GM announced it will fire 5,000 salaried workers by November 1st. For those scoring at home, that’s 15% of the North American white collar workforce.

How is GM’s stock responding this morning? It’s down 7%. As far as the market is concerned, GM can’t cut enough.

See Also:
General Motors (GM) Unveils Desperate Cost-Cuts, Eliminates Dividend
General Motors (GM) Volt: Late, Overpriced, Money-Losing, and Dreamy…But Beloved

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.