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GM workers hearing of job cuts, plant shutdowns
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Tom Landwehr of Murfreesboro, Tenn., loads new 2009 Chevrolet
Traverse vehicles at the General Motors Spring Hill
Manufacturing Plant in Spring Hill, Tenn., last month.
(AP Photo/Bill Waugh, file)
It's a Black Friday for the auto industry.
Ford announced more than 2,200 job cuts earlier today as it reported another money-losing quarter. And General Motors, which earlier this week said its U.S. sales had dropped 45 percent, is currently notifying workers in its plants of what could be massive cuts.
The Associated Press, citing unnamed sources inside the company, said GM would not announce any new plant closures but would report job cuts at its factories through shift reductions and temporary shutdowns.
This news comes as the Labor Department today said the U.S. unemployment rate is at a 14-year high.
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