1600 layoffs at GM
Looks like more bad news for General Motors: The embattled auto company is planning to lay off 1,600 employees this week.
Bloomberg reports that the layoffs are part of 3,400 salaried positions they must cut as part of companies restructuring.
In other news, the company says it is going forward with plans to build a factory in China even as it closes plants in the U.S.
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