GM Restructures a Bit

After posting a record $38.7 billion loss in 2007, General Motors has decided to offer some 74,000 hourly union employees either a buyout or early retirement. If you post a loss like that in a year that you also make $9 billion in cost cuts, some aspects of your model probably need to be addressed. According to the Post, UAW saw this coming and projects the total buyouts to be around 20,000 employees.