Is it a merger between GM and Chrysler?

Is this the same kind of merger that happen between Chrysler and Daimler?
The reports are that Cerberus will trade Chrysler to GM for the rest of GMAC Financing!

This would leave one to believe that their will be massive layoffs due to the overlapping products both companies would produce.

General Motors is already building to0 many cars/sedans and has idled many truck plants.

Although Chrysler has a superior new pickup truck being launched, a world class minivan and the number one name brand automotive group,Jeep.

In the long term outlook of both companies survival this is probably the best for the brands,But it will definitely mean more layoffs and plant closings.