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Announced: Feb. 17
Number of layoffs: 47,000 jobs
Reason for the cuts: GM said it may need $30 billion in total government financing to weather the economic downturn and would shutter five more U.S. factories in a massive restructuring plan.
The automaker is already surviving on $13.4 billion in federal loans and said in a plan submitted to the Treasury Department that it would seek an additional $16.6 billion if economic conditions worsen.