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The Death of GM

Published 05/29/08 Economy In Crisis - Print Article
E-mail - editor@economyincisis.org

Source AP:

General Motors Corp.'s top managers are working on additional restructuring measures, including production cuts, to deal with a declining U.S. auto market and an accelerated shift from trucks to more fuel efficient vehicles, a person familiar with the plan told The Associated Press.

...

The actions, which follow thousands of job cuts over the past three years mainly through buyout and early retirement offers, likely will be announced at the company's annual meeting in Wilmington, Del., on June 3, one of the people said.

The person said GM's previous restructuring efforts, including the departure of more than 34,000 hourly workers, salaried job cuts and globalization of its product design and engineering operations, has positioned it to move quickly when market conditions change.

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Article Comments From Readers

guest says "10 years too late" on 12/18/08
There is nothing left after the executives and the unions bled their companies to death. Let them go bankrupt so other parties can buy their assembly plants and re-start these plants as non-union automobile manufacturing operations.