GM cuts 2,000 US jobs as production slashed

CHICAGO (AFP) — General Motors announced plans Monday to cut 2,000 jobs at two US plants as it slashes production in the wake of a sharp drop in demand and amid a deepening recession.

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The cuts come as the cash-strapped automaker prepares to submit a long-term viability plan in exchange for obtaining billions in loans from the US government. GM's US sales fell 23 percent in 2008 while total industry sales fell 18 percent in the steepest annual decline in 29 years to levels not seen since 1992. More...