"DETROIT — General Motors Corp. is planning to slash another 10,000 salaried jobs by May, saying the cuts are unavoidable with a government restructuring deadline looming and industry-wide sales in one of the worst downturns in history."
I heard an insight analyst predict that GM would file chapter 11, close Canadian operations and move most to the states and some of them to Mexico within the next few years.
Which wouldn't surprise me in the least. Because the US economy is tanking...any jobs that a US company can provide, an effort would be made to provide them in their own country.
"In Canada, the federal and Ontario governments have said they're willing to provide the equivalent of 20 per cent of what the U.S. government provides — about $4-billion (Cdn.) — to help subsidiaries of the Detroit Three auto makers, although conditions are attached."
Is one of the conditions to keep Canadian jobs?
To give the money back if you decide to move operations out of Canada?
I hope so.
You would think so...but, just because it makes sense, doesn't always make it so.
It's a sad state of affairs...and yet even in this climate, people are still demanding.
It's remarkable.
Tuesday, February 10, 2009
Posted by Radmila at 12:59 p.m.
Labels: Pointless Pondering
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