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GM, Chrysler seek billions more in aid

Post Time:Feb 18,2009Classify:Industry NewsView:92

General Motors and Chrysler, two flagships of traditional American manufacturing, reported yesterday that the decline of the U.S. economy has outpaced their bleakest expectations of just two months ago, forcing them to significantly boost their request for billions of dollars in government aid.

The companies said they plan to cut an additional 50,000 jobs worldwide, drop as many as six brands and shutter 14 plants in an attempt to survive one of the deepest recessions in decades, according to a Feb. 18 article in The Washington Post.

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Source: http://www.glassmagazine.com/news-item/auto/gm-chrysler-seek-billions-more-aidAuthor:

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