GMAC to lay off 5,000 workers (out of ~8,000 total)

[Drew Dowdell 5,169]

NY Times

GMAC, the financing company, said Wednesday that it planned to eliminate about 5,000 jobs at its Residential Capital mortgage unit and close all 200 GMAC Mortgage retail offices to combat weak housing and credit markets.

The job cuts will affect about 57 percent of ResCap’s work force, leaving the unit with 3,800 employees, a GMAC spokeswoman Gina Proia said. Most of the cuts will take place this year.

[A Horse With No Name 1,495]

The economy isn't in bad shape...

...yeah, right....I think you and your BF are doing the right thing going to Germany for awhile. I'm glad my wife has a good job at a local university, because very little will be economically stable here for a long, long time, I think.

Chris

[CARBIZ 1]

The economy isn't in bad shape...

...yeah, right....I think you and your BF are doing the right thing going to Germany for awhile. I'm glad my wife has a good job at a local university, because very little will be economically stable here for a long, long time, I think.

Chris

Well, not to rain on your parade, but if all the manufacturing jobs are gone to China, and all the service sector jobs to India, nobody is going to need an education here.

I mean, how much talent does it take to say, "Would you like fries with that?"

[Oracle of Delphi 33]

China and India are both looking for (American English) teachers.

[daves87rs 351]

Hmmm....