Recent company layoffs - GM

General Motors 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.
Bill Pugliano / Getty Images
Copyright © 2018, CT Now