Monday, April 27, 2009

GM to cut 21,000 US factory jobs, shed Pontiac

GM to cut 21,000 US factory jobs, shed Pontiac. DETROIT – General Motors Corp. said it will cut 21,000 U.S. factory jobs by next year, phase out its storied Pontiac brand and ask the government to take company stock in exchange for half GM's government debt as part of a major restructuring effort needed to get more government aid.

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