General motors to cut 30,000 jobs

General Motors will cut 30,000 jobs and close nine North American assembly, stamping and powertrain plants by 2008 as part of an effort to get production in line with demand and position the world’s biggest carmaker to start making money again after absorbing nearly €3.4bn in losses so far this year.

The announcement today by Rick Wagoner, GM’s chairman and CEO, represents 5,000 more job cuts than the 25,000 that the carmaker had previously indicated it planned to cut.