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

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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.

 

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