Workers fearing more bad news from GM
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AP
Published: November 7, 2008
Workers at General Motors and Ford Motor Company factories across the country are on pins and needles as they await the latest batch of bad news for their struggling industry.
Both Ford and GM are expected to announce billions of dollars in third quarter losses, and with it, yet another round of job cuts.
Plummeting sales have hobbled both brands. By the end of the year, each company’s hourly work force in the U.S. will be about half of what it was earlier this decade.
For now it appears neither Ford nor GM expects to permanently close any factories, though some could see temporary shut-downs. Shifts could also be eliminated and overtime banned.
Both companies are spending billions more than they’re making amid the worst economic crisis in decades.
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