General Motors - - for 77 years the world’s biggest car manufacturer - - files for bankruptcy
Jun 2nd, 2009 | By Finfacts Ireland Business & Finance Portal | Category: News worldwide
General Motors, for 77 years the world's biggest car manufacturer, on Monday filed for Chapter 11 in Federal Bankruptcy Court in Manhattan, New York. GM said it would close 14 more American factories - - including seven in Michigan - - and cut up to 21,000 more jobs. After the the closings, which will leave 12 in Michigan, GM will have less than 40,000 workers building cars in the United States, compared with about 395,000 people in the 1970s.