Reply #7: AP source: GM plans more restructuring measures [View All]

[ozymandius]

DETROIT - General Motors Corp.'s top managers are working on additional restructuring measures to deal with a declining U.S. auto market and an accelerated shift from trucks to more fuel efficient vehicles, a person familiar with the plan told The Associated Press late Wednesday.

The person, who requested anonymity because the plan is still being devised, would not give details of what is under discussion by Chairman and Chief Executive Officer Rick Wagoner and his top managers.

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The new steps likely will involve further cost cuts including reduced truck and sport utility vehicle production and a faster rollout of more car and crossover models, similar to what Ford Motor Co. announced last week. Already this week GM announced it would speed up the elimination of one shift each at its Flint and Pontiac pickup truck factories.

Ford on Wednesday confirmed that it is looking at involuntary layoffs of salaried employees, perhaps costing as many as 2,000 workers their jobs.

http://news.yahoo.com/s/ap/20080529/ap_on_bi_ge/gm_restructuring