by Calculated Risk on 4/27/2009 08:54:00 AM

From CNBC: GM Confirms Plans to Cut Jobs, Eliminate Pontiac

General Motors said it would .... eliminate its Pontiac brand ... expects to cut its hourly work force [by 21,000 for the current] level of 61,000 ... It will cut its number of plants to 34 in 2010 from 47 now....

Here is the press conference at 9 AM ET: