It's Monday, January 29, 2001. I'm David Brancaccio. From Michigan Radio, Bill Poorman reports. The company is expected to report that it lost more than a billion dollars during the fourth quarter alone.
Competition is brutal.
The North American manufacturers are under pressure from imports. And an incentive war is on. But he said today's announcement should help relieve workers' stress from waiting for the ax to fall. Still, not all workers took the news lightly. But under the current UAW contract, many of those workers will get 95 percent of their pay.