Bailout Death Casts Millions of Jobs at Risk AutomotiveCrossing Seeks to Add More and More Jobs (2008-12-15)
Automakers soon might have to resort to Chapter 11 bankruptcy after Senate Republicans blocked a $14 billion bailout package. The bailout was expected to provide some relief to the ailing Big Three auto companies. Millions of automotive jobs are now in danger of getting slashed, as the US auto industry is on the brink of collapse, according to a recent study by the Economic Policy Institute (EPI), a non-profit firm based in Washington DC. The whole automotive industry is struggling, unable to bear the pressure generated by the overall downturn.
