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Economics Internal Assessment 1 G.M to Cut 30,000 Jobs and Close Some Factories General Motors, suffering from inefficient sales, high costs of production and massive losses, announced that they planned to close down a dozen facilities in the U.S. and Canada and eliminate 30,000 manufacturing jobs over the next three years. This decision is based upon their competition with other car-manufactures, such as Toyota and other overseas automakers, the annual increase in the price of oil/gas, and the consequential decrease in demand for their vehicles. G.M states that, "these actions are necessary for us to get our costs in line with our major global competitors." Through these actions G.M hopes to recover a sustainable part of the market; however they must change their products for them to be able to compete with the overseas car manufacturers. During most of the 1990's SUV's, minivans, and big pickup trucks were tremendously popular. G.M made...

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