Although ailing car manufacturer General Motors Corp. has pledged to cut 25,000 jobs over the next three years, business experts doubt that that move alone can turn the company's fortunes around. Analysts argue that the latest rounds of job cuts are nothing new for the company, and that three decades of employment purges have not necessarily fixed GM's financial problems. Though GM's announcement of plant closings has made headlines, the number cited is not significantly different from the company's current pace of job reductions.
See "Despite G.M.'s Talk of Bold Plans, Analysts Ask if More Needs to Be Done", Danny Hakim and Jeremy W. Peters, The New York Times, June 8, 2005