“It’s a big company. They don’t care. It’s a business. We’re numbers. It doesn’t matter.” This is some of what Tara Gress, a General Motors’ employee, told the Washington Post in an interview about the company’s impending closures and layoffs. Tara was just expressing what most employees are likely feeling as they process the layoff news and begin a journey of uncertainty and change.
This week, GM announced that it intends to completely shut down five of its plants and terminate the employment of approximately 15,000 employees. This is certainly hard news for current GM employees to hear, but it is also the kind of news that likely brings discomfort to employees working in many other manufacturing companies and even in other industries as well. If GM needs to do this with the economy doing as well as it is, we can’t help but wonder whether the hot economy has peaked and is now in cool-down mode. Is GM just the tip of the iceberg for more bad economic news to come? CBS News MoneyWatch asserts that this indeed could be the case.