The Death of GM

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.

Economy In Crisis relies on financial support from its readers. Learn more.

Your endorsement is greatly appreciated. Click here for other ways to get involved.