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| General Motors to cut 2,000 jobs | General Motors to cut 2,000 jobs |
| (40 minutes later) | |
| Struggling US carmaker General Motors says it will shed 2,000 jobs at plants in Michigan and Ohio. | Struggling US carmaker General Motors says it will shed 2,000 jobs at plants in Michigan and Ohio. |
| GM added that it also planned to cut production at several plants over the next six months, as car sales continue to fall. | GM added that it also planned to cut production at several plants over the next six months, as car sales continue to fall. |
| Last month, the White House agreed a $17.4bn bail-out package for GM and rival Chrysler. | Last month, the White House agreed a $17.4bn bail-out package for GM and rival Chrysler. |
| GM had warned that it could run out of cash in a matter of weeks, had the money not been made available. | GM had warned that it could run out of cash in a matter of weeks, had the money not been made available. |
| GLOBAL JOB CUTS Caterpillar - 20,000ING - 7,000Philips - 6,000Corus - 3,500Home Depot - 7,000Pfizer - 8,000 plusGeneral Motors - 2,000 | |
| GM said last week that it sold 8,350,000 vehicles in 2008, down by 11% from 2007. | GM said last week that it sold 8,350,000 vehicles in 2008, down by 11% from 2007. |
| The decline meant GM sold fewer vehicles than Toyota last year, ending GM's 77-year reign as the world's top-selling car firm. | The decline meant GM sold fewer vehicles than Toyota last year, ending GM's 77-year reign as the world's top-selling car firm. |
| It is the latest big firm to announce massive job cuts. On Monday, alone companies worldwide said they planned to eliminate more than 50,000 jobs. |