GM laying off workers temporarily?

SmashMouth · 03-03-2012, 01:09 PM

General Motors (GM: 26.45, -0.02, -0.08%) will temporarily lay off 1,300 workers for five weeks at one of its Detroit plants.

The car maker confirmed to FOX Business Network that the layoffs will run from March 19 to April 23 and will coincide with halts in the production of GM’s Chevrolet Volt and the Opel Ampera.
The company said the temporary shutdown and layoffs are an effort to match production with demand.
GM is less than three years removed from bankruptcy during which the company, once the largest car maker in the world, shed billions of dollars in debt and agreed to streamline its operations.
With help from a $50 billion government bailout, GM stayed afloat, sold shares in an initial public offering in 2010 and has started to turn a profit again.

Read more: GM to Temporarily Lay Off 1300 | Fox Business

Does that not contradict a recent story that they were hiring a bunch of people? And they just bought a 7% stake in Peugeot too!

03-03-2012, 01:09 PM	#1
SmashMouth I donated, did you? Join Date: Sep 2007 Location: Mandeville, LA Posts: 38,477 Blog Entries: 29	GM laying off workers temporarily? General Motors (GM: 26.45, -0.02, -0.08%) will temporarily lay off 1,300 workers for five weeks at one of its Detroit plants. The car maker confirmed to FOX Business Network that the layoffs will run from March 19 to April 23 and will coincide with halts in the production of GM’s Chevrolet Volt and the Opel Ampera. The company said the temporary shutdown and layoffs are an effort to match production with demand. GM is less than three years removed from bankruptcy during which the company, once the largest car maker in the world, shed billions of dollars in debt and agreed to streamline its operations. With help from a $50 billion government bailout, GM stayed afloat, sold shares in an initial public offering in 2010 and has started to turn a profit again. Read more: GM to Temporarily Lay Off 1300 \| Fox Business Does that not contradict a recent story that they were hiring a bunch of people? And they just bought a 7% stake in Peugeot too!