Wednesday, August 05, 2009

How's the Auto Bailouts and Cash for Clunkers Working for GM? Uh...

...Not so well. From Bloomberg:
General Motors Co. may have to cut more U.S. hourly jobs after an offer of buyouts and early retirements fell about 7,500 workers short of the reorganized automaker’s target.

The possibility of layoffs was disclosed today by Sherrie Childers Arb, a spokeswoman, in an interview after GM announced that more than 6,000 United Auto Workers members, or 11 percent of the hourly workforce, left the company on Aug. 1.

GM’s latest voluntary exits pushed the total of U.S. hourly workers leaving through buyouts and retirement offers to about 66,000 since 2006. The biggest domestic automaker is shrinking its workforce to match reductions including the shutdown of 14 U.S. plants and 3 warehouses by the end of 2011.

“It’s not surprising they didn’t reach their goal,” said Dennis Virag, president of Automotive Consulting Group Inc. in Ann Arbor, Michigan. With U.S. unemployment at 9.5 percent in June, “workers are more reluctant to accept a buyout because the prospects for other employment are more challenging.”

GM aims to eliminate 13,500 hourly positions in 2009, trimming that payroll to about 40,500 jobs, said Tom Wilkinson, a spokesman. Detroit-based GM began the year with about 61,000 U.S. hourly jobs and cut that total to about 54,000 at the end of April with buyouts and early retirements.

Those selfish workers! Don't they know they are sacrificing for the greater glory of der Fuhrer, er, I mean, Barack Obama? I mean, so what if they can't get another job, Barry's gotta get his numbers up...
Yep, keep on believing the lies Obama is the nation's and your own peril.