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
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