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GM searches for more cost cuts

Posted on April 7, 2009 2:30 PM
The board of General Motors Corp. concluded two days of meetings Monday, reportedly scouring for deeper cuts even as the automaker ramps up preparations for a bankruptcy filing.

GM's board is said to have discussed ways to trim costs beyond its proposal to cut its debt in half and shed more than 47,000 jobs in 2009, according to a Bloomberg News report. Further meetings between the board and government officials are expected. GM's planning for a bankruptcy filing was ratcheted up in February, according to Bloomberg, on fears that the Obama administration would not support the company's restructuring plan.

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