GM says it needs another $16.6 billion from the government to stay afloat during the recession. The company says it would also have to cut 47,000 jobs and close five more U.S. plants. Here are some of the details from GM's new plans according to an article in the Detroit News.
Eliminating 47,000 workers -- 37,000 hourly workers and 10,000 salaried workers -- around the world this year, including 20,000 workers in the U.S.
In the Dec. 2 submission to Congress, the automaker said it would cut up to 31,000 jobs.
Shuttering five more plants in North America, bringing the total to 14 plant closures within the next three years.
GM continues to talk to dealers about the future of the Saturn brand, which could be eliminated in 2011 unless dealers come up with an alternative.
GM has several parties interested in buying the Hummer brand, but the brand could be eliminated by the end of March if a deal is not reached.
GM is negotiating a deal for Saab with the Swedish government, but if none is reached, the subsidiary could file for reorganization this month or next. That would leave GM with four core brands: Chevrolet, Cadillac, GMC and Buick.
That is a large amount of money and a huge number of layoffs. Chrysler also reported its bailout needs today - $5 billion more plus 3,000 layoffs.
GM says it needs another $16.6 billion from the government to stay afloat during the recession. The company says it would also have to cut 47,000 jobs and close five more U.S. plants. Here are some of the details from GM's new plans according to an 
