Job and brand cuts from GM on the horizon
07-07-2008, 03:26 PM
#1
Job and brand cuts from GM on the horizon 
Originally Posted by AutoBlog
Tony Cervone, a GM spokesperson, has told Bloomberg that HUMMER is the only brand the General is considering selling or closing.
The Wall Street Journal is reporting that General Motors is looking to cut thousands of white-collar jobs and sell, or stop production, of some if its brands. The General has supposedly set 2010 as a target for its return to profitability, but the automaker has never announced any details on how it plans to achieve that goal.
GM's management team will be meeting with the board early next month to discuss raising additional cash, and that could mean seriously pruning GM's bloated brand portfolio. HUMMER is supposedly already on the block, but Chevrolet and Cadillac – brands at the core of GM's business – are likely safe from the ax. However, Buick, Pontiac, Saab and Saturn, which haven't fared well during the biggest U.S. sales slump in 15 years, could possibly be sold or killed completely.
While it deserves note that all of this information comes from unnamed WSJ sources, GM's recent stock plunge and abysmal June sales numbers means something has to be done, and quick. If that entails cutting underperforming brands, so be it -- nostalgia be damned.
The Wall Street Journal is reporting that General Motors is looking to cut thousands of white-collar jobs and sell, or stop production, of some if its brands. The General has supposedly set 2010 as a target for its return to profitability, but the automaker has never announced any details on how it plans to achieve that goal.
GM's management team will be meeting with the board early next month to discuss raising additional cash, and that could mean seriously pruning GM's bloated brand portfolio. HUMMER is supposedly already on the block, but Chevrolet and Cadillac – brands at the core of GM's business – are likely safe from the ax. However, Buick, Pontiac, Saab and Saturn, which haven't fared well during the biggest U.S. sales slump in 15 years, could possibly be sold or killed completely.
While it deserves note that all of this information comes from unnamed WSJ sources, GM's recent stock plunge and abysmal June sales numbers means something has to be done, and quick. If that entails cutting underperforming brands, so be it -- nostalgia be damned.
Trending Topics
07-08-2008, 12:41 PM
#10
12 Second Club
iTrader: (16)
Join Date: Jul 2005
Location: central coast, cali
Posts: 783
Likes: 0
Received 0 Likes
on
0 Posts
I dont really care about Saab, there are times where I even forget they are a GM brand, if they had to get rid of one brand, i would chose them first. Pontiac has been in the up and up with the new G6 and G8, Saturn has been turning out some cars that are actually good looking, and Buick has been upgrading their cars to look like real luxury sedans.
07-08-2008, 03:35 PM
#14
im pretty sure it had more to do with predictablity of sales . . or prediction decreasing sales. Doesn't matter how profitable a car is if the profit accumulated doesn't overpass the amount to create the excess amount of vehicles...
07-08-2008, 03:45 PM
#16
11 Second Club
iTrader: (14)
Join Date: Apr 2006
Location: corona
Posts: 568
Likes: 0
Received 0 Likes
on
0 Posts
really who gives a **** about pontiac? really? the gto is done, the g8 is an overweight under powered flop that looks nice, i dont think pontiac has done anything or offered anything to any market besides a different style car that already exists, the solstice excluded