Chevy Volt On The Chopping Block  

I've seen rumours about GM going bust floating around this week (creating who knows what havoc as another round of credit default swaps are triggered). While this hasn't happened yet, there are also rumours the Chevy Volt is in the sights of the razor gang - Rumor: GM To Put Chevy Volt Program On Hold, Cut Engineering Staff Tomorrow. Hopefully this rumour is as wrong as the "Tesla Going Bust" one was.

Rumors of tomorrow's "important changes" at GM have approached a fevered pace, but the latest one we've heard is coming directly from someone who's directly related to someone who could be directly affected if the rumor is true. So, it must be true, right? Anyway, we've just been told by the family of a Chevy Volt engineering team member that not only is the untouchable Volt program on hold, GM's even letting some of the engineering team, aka "the chosen people," go. Hit the jump for the full rumor.

"My uncle works on the Volt as an engineer. He's getting laid off Friday because apparantly the project (aka VOLT) is on hold indefinitely."

We've put in a call to GM PR to ask them about the veracity of our tipsters claim, but we've yet to receive a response. We'll let you know when we've got more to tell you — but in terms of reliability, it would mean yesterday's Reuters report claiming GM was expanding R&D spend on hybrid electrics was total baloney.