GM?s executives announced deep cuts to the company Tuesday, calling them a “plan to win.” But a lack of details about that plan and previously announced cuts have GM?s local plant at a loss.
General Motors said it would lay off salaried workers, cut truck production, suspend its dividend for the first time since 1922, and borrow as much as $3 billion. The cuts will include thousands of jobs in an effort to generate $10 billion in “cash improvements” by the end of 2009.
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