Thread regarding General Motors layoffs

Here's at true look at the past.
May 29, 2009. GM stock reached 0.75 cents a share.
https://money.cnn.com/2009/05/29/news/companies/GM_stock/index.htm?postversion=2009052912
This was almost 14 years ago.

On June 1, 2009, GM filed for bankrupcy.
https://money.cnn.com/2009/06/01/news/companies/gm_bankruptcy/

While I believe we are not even close to a 0.75 cent share or bankruptcy, I believe that when you consider geopolitical issues, supply chain issues, banking industry issues, current corporate mass layoffs, crashing housing market, rising personal bankruptcies, automotive repossessions, high interest rates, stock market volatility and more... we are 100% headed in this direction. It will affect all industries and all nations.

If you overlay the last recession with the current one (which makes all kinds of assumptions and leaves out the fact that the current situation is worse for many reasons, including skyrocketing inflation, global financial system collapses and the introduction of a central bank digital currency), we are probably looking like 2007 right now, which means we could be 2 years away from serious issues at manufacturing companies. This might me an eye-roll for the young people reading this, but heed this warning: when manufacturing collapses, no one will have money for tech services. Netflix, Grub Hub, you name it will end up looking like the 2000 dot com bubble collapse. See: AOL, Netscape, Pets.com, Priceline.com, eToys.com, etc.

And for the CCP trolls that monitor these threads, know that the symbiotic relationship between the US and C is more entangled than ever before. As America enters another recession/depression, C will be choked off of trade money, which will lead to a collapse in your monetary system, manufacturing, commercial real estate, and more food and resource insecurity. Celebrate the demise of the US economy knowing that the sword has two edges, and it also cuts deep into other economies around the world, especially Europe.

To the people who think their only concern is a lack of free coffee, RTO and an increase in work, know this: The fun hasn't even started. Your great grandparents could tell you if they were still alive what we are headed into but you can google "the great depression" to get a good idea.
#bendoverhereitcomesagain

@1mge+1lQhdY3y

Has management done any of those things?

Integrity?
One team?
It's on me/taken responsibility?

First off, my heart goes out to salaried GM workers in USA are facing the prospect of losing their jobs. This is particularly onerous on the eve of a looming recession and in the wake of similar layoffs at Ford. I went through an analogous experience decades ago in a different industry. I was able to rise from the ashes and I wish the same for all GM and Ford employees who are or will be affected by this.

Echoing the sentiments of some who posted earlier, it's time for GM to go down the tubes. No taxpayer-funded bailouts this time up, just let the damn company fail or succeed - Over the long haul the latter is unlikely in my view - on its own. That was good enough for Packard, Nash, Hudson, AMC and countless others. Let the marketplace decide winners and losers.

For decades I was a Chevrolet man but that ended with the government bailout. I loved my Camaro, my Impala and my Caprice. Last time up, however, I bought a Ford Taurus because Ford Motor Company did NOT take the bailout.

• One Team
• Think Customer
• Look Ahead
• Innovate Now
• Be Bold
• It's On Me
• Win With Integrity

Just bad management with no vision

What I don’t get is why did everyone, including GM, think it was a great idea to go on such a huge hiring spree post-pandemic? The massive price hikes and demand in vehicles/services/etc were obviously not going to last forever as supply came back. It should have been used as an opportunity to safeguard themselves against the future recoil.

Just as long as they don't use taxpayer money to save companies like in 2008.

In capitalism, the government shouldn't pick winners and losers.

If a company messes up, it just might go out of business.

Too many times, the government steps in to socialize losses when things go bad even though all the gains were privatized during the good times.

Yes, time to shutter GM

AMC had to close their doors

Packered had to close their doors

Time to close of GM. If you cant handle the responsibilities and you spent the all the cash time to close. You failed.