GM to lay off 4,250 salaried workers in North America starting Monday

Re:GM to lay off 4,250 salaried workers in North America sta... by lurker213 on Sunday February 03, 2019 @11:17PM (#19073966)

No, the issue are the unions.

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Re:GM to lay off 4,250 salaried workers in North America sta... by gamblor956 on Sunday February 03, 2019 @11:32PM (#19074022)

No, GM did $10 billion of buybacks this year and now needs to "save" $6billion by firing workers.

The cost of firing those workers? They've permanently lost those workers, their families, and their friends as customers. Forever. So that some fat #$@#$ shareholders can have a few more bucks in their bank accounts.

The unions are the only thing protecting those workers and the thousands of jobs in the American supply chain that the executives are doing their best to destroy.

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Re:GM to lay off 4,250 salaried workers in North America sta... by devoply on Monday February 04, 2019 @12:17AM (#19074155)

10 billion / 4250= 2.3 million

From Motley Fool:

GM targets a cash reserve of $18 billion, and returns any free cash above that number to shareholders via dividends and an ongoing stock-repurchase program. Since 2012, it has returned about $25 billion.

Why you wouldn't take that 25 billion and invest it in AI and electric cars is baffling to me.

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