GM to Cut 13,000 Factory Jobs

General Motors’ early retirement and buyout offers have failed to reduce headcount to the extent hoped, meaning 13,000 involuntary layoffs.

Six thousand workers accepted retirement or buyouts, but the car manufacturer did not reach its goal of cutting firmwide factory jobs down to 40,500.

General Motors Corporation is a global automaker founded in 1908, with headquarters in Detroit, Michigan. It is the world’s second-largest automaker after Toyota, ranked by 2008 global unit sales. GM was the global sales leader for 77 consecutive calendar years from 1931 to 2007.