GM announces new production, job cuts; Cadillac XLR canceled

The ongoing economic recession continues to impact the car industry and General Motors with reduced revenue and the need to cut production. Reducing production means cutting back on labor, resulting in today's announcement of 2,000 jobs to be cut. Along with the lost jobs, GM will be cutting back on output of specific models and doing away with the Cadillac XLR altogether. The Chevrolet Cobalt and Pontiac G5 will both see their numbers reduced as 800 jobs leave the Lordstown plant where they are built, reports Automotive News.