I'm honestly a little surprised that people ask when this is going to be over. I hate to break it to them but layoffs and reorganizations are the main focus of this GM leadership and as long as they are on the top there will never be job security. Maybe we will not have layoffs on the scale that we had them recently but there will be always smaller and bigger waves. Their main focus is to restructure and to cut cost and that will not change. Hope that they meet their end at the company before the damage is irreparable.
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There is no such thing as job security anymore. Take care of yourself, GM wont take care of you.
The problem with laying off people when times are good is that it not only does it generate fear and mistrust between management and the workers but also between workers themselves. I had the unfortunate experience to work at a couple of smaller design firms that used the same approach that GM has adopted. That is, the hire and fire approach. Generally, lesser companies use this approach and once word gets around then they have a problem attracting good engineers. I know Barra is a currently a media darling but I think having mass salary layoffs when you are giving your hourly employees 10K+ bonuses will come around to haunt her.
Simple human reaction, "We've had enough", "When is it going to be over?", Etc. Just remember nothing was said when the company was doing better, as if they were going to always be on solid ground. I agree with OP that one's job is never safe! You can just as easily be tapped on the shoulder tomorrow and asked to leave bearing some small "going away" package as you are to stay another day!