DETROIT, MI (KAIT) - General Motors has posted a $38.7 billion loss for 2007, which is the largest loss ever by an automotive company.
Now, GM is offering buyouts to 74,000 workers to try to turn the organization.
That number is an enormous figure, considering that GM employees just under 300,000 people, worldwide.
GM produced 9.37 million vehicles in 2007.
GM had posted a loss of $10.6 billion in 2005 but managed to post a loss of only $1.978 billion in 2006, after extensive corporate restructuring.
At one time, General Motors' stock was over $80 a share. As of February 11, GM stock closed at $27.12 a share.
General Motors produces the following brands of automobile: