Reuters, via Yahoo!:
GM mulling thousands of job cuts, sale of brands: report Mon Jul 7, 1:15 AM ET
(Reuters) - General Motors Corp (GM.N) is planning to cut thousands of white-collar jobs and is considering whether it should sell or stop production of more of its brands, The Wall Street Journal said, citing people familiar with the matter.
Both moves are part of a broader re-evaluation of the company's strategy and of its ability to meet an internal projection of returning to profitability in 2010, the people told the paper.
The job cuts are likely to be approved when GM's board of directors meets in early August, the people said. The reductions would be in addition to earlier announced cuts.
Management may also present the board with options for raising additional cash, they told the paper.
The board may also hear management's latest thoughts on whether GM should trim the number of brands it offers in the United States, the people told the paper.
All but the Cadillac and Chevrolet brands, which GM considers core to its business, are undergoing close scrutiny, some other people told the paper.
In the past few years, as GM has run up massive losses, some board members and some executives have on occasion raised questions about its plethora of brands, only to be rebuffed by Chief Executive Rick Wagoner, the paper said, citing people familiar with the matter. .......(more)
The complete piece is at:
http://news.yahoo.com/s/nm/20080707/bs_nm/gm_jobs_dc