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(Image from article: "GM to cut 21,000 US factory jobs, shed Pontiac")

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GM CEO says economic outlook uncertain

The U.S. economy is on increasingly unsteady footing, hurt by stubbornly high unemployment and volatile oil prices, the head of General Motors Co told reporters on Tuesday.

 

GM to cut 21,000 US factory jobs, shed Pontiac

GM to cut 21,000 US factory jobs, shed Pontiac

General Motors Corp. said it will cut 21,000 U.S. factory jobs by next year, phase out its storied Pontiac brand and ask the government to take more than half its stock in exchange for half of GM's government debt as part of a major restructuring that would leave current shareholders holding just 1 percent of the company.

 

General Motors posts $9.6 billion quarterly loss

General Motors Corp. posted a $9.6 billion fourth-quarter loss Thursday and said it burned through $6.2 billion of cash in the last three months of 2008.

 

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