GM Posts $3.3 Billion First-Quarter Loss and Announces Layoffs, an Industrial Info News Alert
02 Maggio 2008 - 12:30PM
Marketwired
SUGAR LAND, TX --Citing the weak economy, rising gas prices and
the two-month-old strike at American Axle & Manufacturing
Incorporated (NYSE: AXL), struggling automotive giant General
Motors Corporation (NYSE: GM), announced a $3.3 billion loss for
the first quarter of 2008. As a result, the automaker will shut
down one shift at each of its four North American assembly plants,
which will result in the need to lay off approximately 3,500 hourly
workers.
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