50,000 jobs to go as carmakers beg for billions

America’s sinking car industry has told the government it needed even more help to survive than originally thought.

50,000 jobs to go as carmakers beg for billions
Wed, 18 Feb, 2009 - 07:29

General Motors and Chrysler’s request for US government aid ballooned to a staggering $39bn (€30.9bn) today – only months after receiving billions in loans.

And the car makers revealed shock new plans for massive job losses and intense restructuring to survive the deepening recession.

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CourtsBusinessHeathrowPlace: AmericaPlace: USPerson: Rick WagonerPerson: Fritz HendersonPerson: HendersonPerson: Timothy GeithnerPerson: WagonerOrganisation: General MotorsOrganisation: ChryslerOrganisation: US governmentOrganisation: VauxhallOrganisation: United Auto Workers unionOrganisation: GMOrganisation: FordOrganisation: Treasury DepartmentOrganisation: ObamaOrganisation: SAABOrganisation: HummerOrganisation: ChevroletOrganisation: CadillacOrganisation: GMCOrganisation: BuickOrganisation: Pontiac
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