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Bankrupt GM Begins Slashing Jobs

Despite the government's efforts to keep GM afloat, the company is hemorrhaging jobs.

The General Motors flameout has been a disaster for blue collar Americans working on assembly lines. Out of 123,000 GM workers left in North America, 20,000 are scheduled to lose their jobs.

Meanwhile, the Auto Task Force appointed by President Obama to oversee the process is led by Wall Street financiers focused on a single goal — turning a profit and getting stock prices to rise. It's an approach that has some people worried.

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