Gm Can't Downshift Fast EnoughDavid Woodruff
Few economic enterprises ever assembled have been as large as General Motors Corp. Even after years of losing market share in the car business and cutting back workers and factories, the company still employs roughly 400,000 workers in the U.S. alone. Its factories have the capacity to turn out 7 million cars and light trucks, nearly half of sales in what the industry would consider an acceptable year. So in some sense, it's only fitting that when Corporate America is chopping back almost daily, GM would announce the biggest cut of all: Over the next three or four years, some 60,000 of its workers will lose their jobs. What is more stunning is that it might not be enough.
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