GM Slashes Jobs...sort of

GM announced today that they would be closing four auto plants that produce SUV's. Wow, sounds bad for the workers doesn't it? Not so fast. The current contract (I think it runs for another 2 or 3 years) will pay laid off workers up to 95% of their wages. The company will save money in not producing SUV's for which there is no market. They will not save money from cutting employee costs.