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GM Restructuring and Buyouts
Comments 0 | Recommend 0General Motors is working on more restructuring measures to deal with a declining U.S. market and a faster shift to more fuel efficient vehicles.
The restructuring is expected to be announced at the company's annual meeting in Delaware on June 3rd. The new steps likely will involve further cost cuts including reduced truck and sport utility vehicle production.
Meanwhile, G.M. announced Thursday a quarter of its U.S. hourly workers will take it's latest buyout offers. The automaker says 19,000 workers will take the buyout offers and leave the company by July 1st.
G.M. conducted it's last round of buyouts in 2006 when about 34,000 workers left the company.
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