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General Motors struggled financially in the late 2000s due to losses of $80 billion from 2005-2008 and high labor costs of $70 per hour. The company sought a bailout from the U.S. Treasury Department and received $13.4 billion to continue operating. However, GM still required additional funds and implemented cost-cutting measures like job cuts, plant closures, and salary reductions in order to improve its financial situation and avoid bankruptcy. The governments of the U.S. and Canada provided a total of $6

Author

orang_ganteng

Language

EN