GM Cuts 401K Spending

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 The big Three are really feeling the pain of the economy and it seems that making alliances would be the natural thing to do.  But, it appears that Chrysler is delaying any talk of merging with the car behemoth, GM.  GM appears to be in a scramble for cash flow as Reuters reports they lost $51 billion in the last three years.  Well, the employees are getting ready to feel GM’s wallet crunch November 1.  The company is preparing to cut back by cutting matching funds to employee 401k plans.  In an economy that has nearly come to a complete standstill it’s a wonder they can produce cars at all.  Read here for GM’s cost cutting tricks.

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