General Motors Corp. (GM) reported a $38.7 billion loss for 2007 on Tuesday, the largest annual loss ever for an automotive company, and said it is making a new round of buyout offers to U.S. hourly workers in hopes of replacing some of them with lower-paid help.
The earnings report and buyout offer came as GM struggles to turn around its North American business as the economy weakens.
I don't know about you, but I think they have a bigger problem than hiring cheaper workers can solve. With a workforce of about 300,000 employees, that's about $140,000 average annual loss per employee.
No comments:
Post a Comment