Originally Posted by chris_knows
Is this old news? I just heard the St. Catherines or somewhere near plant is closing...which is pretty close to Windsor, and both my parents work for GM so...
This was coming sooner or later, I saw it on CNN headline news the other day, GM is laying off 30,000 employees and shutting down about a dozen plants. In June of this year GM said it would only cut 25,000 jobs, but...seems they needed more. They the closings and job cuts will save GM $7 billion a year.
Here's the story...
Sorry if your mom and dad get affected by it, but when worse comes to worse GM has to make drastic decisions to make more REVENUE. In the first three quarters of this year they already have lost $2.2 billion. They say by the end of 2006 Toyota will easily take over as the #1 world automaker (taking over GM's reign of 70+ years). GM's stock was at its lowest ever this year.
1990 Honda Accord LX Sedan
Mileage Ticker: 232,400 Miles
Stereo Mods: Coming soon...
Blow your mind~