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Wednesday, November 25, 
5:38 pm

GM employees brace for more bad news

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Published November 5, 2008 at 4:56 PM
Rick_Wagoner_with_logo.jpgMore bad news on the horizon at General Motors Corp. The automaker plans to announce "important changes" to its automotive operations on Friday along with its third-quarter earnings, according to an internal e-mail obtained by The Detroit News.
 

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CEO Rick Wagoner (pictured) and president and chief operating officer Fritz Henderson will reveal the changes that will reportedly address challenges "brought on by the volatile global economic situation" to employees at 11 a.m. Friday.
 
The most likely development will be more layoffs and restructuring for the beleaguered car company, which has already cut such benefits as matching 401(k) contributions. - George White

See The Detroit News story


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