GM to make over 50,000 job cuts

IT jobs are at risk as more than a fifth of General Motors workers face losing their jobs by the end of the year as the company restructures, GM CEO Fritz Henderson said today.

IT jobs are at risk as more than a fifth of General Motors workers face losing their jobs by the end of the year as the company restructures, GM CEO Fritz Henderson said today.

Speaking in a news conference, Henderson said job cuts across the board would be around 22% of GM's 235,000 workers, but that the attrition rate among managers would be higher.

He said a third of the cuts had already been made, and the rest would be done by the end of the year, starting in the next 30 to 60 days.

These job losses will come on top of the loss of 400,000 jobs in the US automotive sector last year.

Announcing the US government's 61% share of the restructured GM, President Barack Obama said the deal came at a cost in jobs and money, with more to come. This "sacrifice" was on behalf of future generations of Americans so that they could live "in an America that still makes things", he said.

Obama said the US government had started a programme to retrain laid-off auto workers in green industries. He called on Congress to approve a plan to speed up the replacement of the government vehicle fleet with more fuel-efficient models to kick-start US auto production.

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