General Motors and Chrysler submit their survival plans to the U.S. government today. While neither company is willing to consider bankruptcy, the deepening economic troubles are making that seem like more and more a possible outcome. Regardless what happens in the coming weeks, as the plans are reviewed by a new government task force, the future likely holds more plant closures and thousands more layoffs. The government has until the end of March to decide if the companies have restructured enough, or to call back the loans and let the auto makers collapse.
Hard decision and cuts ahead for GM
The future likely holds more plant closures and thousands more layoffs
FILED UNDER: Business