Covering the Economy: Employment and Layoffs: GM

GM's financial results for 2005:

G.M. Posts Worst Loss Since 1992 - New York Times : By MICHELINE MAYNARD: DETROIT, Jan. 26 -- By the middle of this decade, Rick Wagoner promised a few years ago, General Motors would again be king of the American road. The company would have dozens of new products aimed at beating foreign automakers, Mr. Wagoner, G.M.'s chief executive, said in 2002. With those new cars and trucks, G.M. would rebuild market share and its profits would help it stay ahead of the high cost of providing health care. Instead of fulfilling Mr. Wagoner's promise, G.M. went into reverse on Thursday. The company reported an $8.6 billion loss for 2005, the year it began its latest revamping, meant to reverse a string of losses and fend off relentless competition. G.M. reported a profit of $2.8 billion in 2004.