The news that GENERAL MOTORS is cutting 5,000 jobs on top of the 25,000 it announced months ago has an air of déjà vu.
The bloodletting promises to be deep and wide and painful. Impatient with [chairman Robert] Stempel's slowness in carrying out plans to close 21 of GM's 120 North American plants and cut 74,000 of its 370,000 employees over three years, directors now want to eliminate a total of 120,000 jobs during the decade ... "It's going to be brutal," warns a GM director. "If the unions won't cooperate, GM will have to play real hardball. We don't even...
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