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GM may have to fire 5,000 salaried workers soon. When the government loaned them $13 billion, GM was told that it would have to prove itself to be commercially viable. The cost cutting measure comes after GM’s sales for January dropped 49%.

GM, which saw its sales drop 49 percent in January, told policymakers in December that it faced possible near-term collapse without government aid. The company has received $9.4 billion in emergency funding as part of a rescue plan the U.S. government approved in December.

Whatever GM decides to do, it needs to do it quickly. It has until March 31st to prove to the government that it is worth saving.

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Jeremy

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