In an effort to reduce costs and revive its North American operations, General Motors chairman and CEO Rick Wagoner told shareholders yesterday that the corporation expects to eliminate 25,000 jobs by 2008 by closing additional plants in the U.S. He also noted that the company is in intense discussions with the UAW and other unions representing GM workers to cooperatively seek ways to reduce skyrocketing health care costs.
See "GM to cut 25,000 jobs by '08", CNN, June 6, 2005