Posted inChina, European Union, France, Germany, Italy, Middle East, World

GM proves that slashing wages isn’t the ticket to profitability

General Motors late last month gave its workers a lot less reason to feel grateful, announcing right after the US Thanksgiving holiday that the automobile manufacturer planned to cut its salaried workforce by 15%, to dump most of its car models and to kill off five North American plants, in Detroit and Warren, Michigan; Warren, Ohio; White […]

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