General motors, ailing US Auto Giant has announced that it will layoff 2000 more jobs. The following comment in WSJ is worth repeating here:
General Motors is laying off an additional 2,000 workers and cutting output further, aiming to square production with sales levels unseen since WWII.
General motors has already been overtaken by Toyota in 2008 as the largest auto manufacturer of the world. Outlook for GM and in general US automobile industry is very sad and more layoffs in the coming quarters remain a high possibility.