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GM could go for job and brand cuts
General Motors may get rid of some brands, speed the introduction of small cars from other markets and make further white-collar job cuts as it tries to deal with a shrinking US auto market.
- AP
- Published: 00:09 July 8, 2008
Detroit: General Motors may get rid of some brands, speed the introduction of small cars from other markets and make further white-collar job cuts as it tries to deal with a shrinking US auto market.
A person familiar with the company's discussions said yesterday all the options are being considered as GM tries to cope with the dramatic shift in consumer buying habits from trucks to cars and crossover vehicles.
The person asked not to be identified because no decisions have been made.
GM announced last month it would close four truck and sport utility vehicle plants and boost production of several existing car models.
Its sales are down 16.3 per cent this year, and last week GM's stock price closed below $10 for the first time since September 1954.
The job cuts could be considered by GM's board of directors when it meets in early August, The Wall Street Journal reported yesterday.
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