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General Motors Continues to Downsize as Shift Eliminations and White-Collar Job Cuts are Announced
SUGAR LAND--August 7, 2008--Researched by Industrial Info Resources (Sugar Land, Texas)--The downward spiral that is the multiyear reorganization plan for General Motors Corporation (NYSE:GM) (Detroit, Michigan) only continues to get steeper as the former No. 1 automaker has been forced to continue its program of buyouts, layoffs, production cuts, plant closures and shift eliminations at its North American facilities. Most recently, the automaker announced several plant closures as a result of the dramatically weakened truck and SUV market. Ford Motor Company (NYSE:F) (Dearborn, Michigan) and Chrysler LLC (Auburn Hills, Michigan) have also been forced to make dramatic reductions in SUV production while scrambling to boost the production of smaller vehicles that are more fuel efficient.
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Industry Segment: Automotive
Word Count: 553 Words
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