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- Announcement made on July 15, 2008
- General Motors will sell $2 billion in assetsThe New York Times: G.M. Suspends Dividend and Plans Layoffs (July 15, 2008)
- GM also plans to borrow $3 billionThe New York Times: G.M. Suspends Dividend and Plans Layoffs (July 15, 2008)
- Will stop providing health care to employees over 65The New York Times: G.M. Suspends Dividend and Plans Layoffs (July 15, 2008)
- Will offer buyouts and early retirement to salaried employeesThe New York Times: G.M. Suspends Dividend and Plans Layoffs (July 15, 2008)
- Salaries will be frozen through 2009The New York Times: G.M. Suspends Dividend and Plans Layoffs (July 15, 2008)
- Changes will save 20 percent in labor costsReuters: Factbox: Highlights of GM's New Restructuring Plan (July 15, 2008)
- Will delay truck and SUV developmentReuters: Factbox: Highlights of GM's New Restructuring Plan (July 15, 2008)
- Payment of dividends will be suspendedThe New York Times: G.M. Suspends Dividend and Plans Layoffs (July 15, 2008)
- Barack Obama called plan a "sobering reminder" of recent economic difficultiesReuters: Obama says GM's woes a sober reminder (July 15, 2008)
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On July 15, 2008, General Motors CEO Rick Wagoner announced that the company would implement a restructuring plan to combat losses he described as "significant" in the second quarter of 2008.Agence France-Presse: GM warns of losses, scales back... (July 15, 2008)
The plan includes the suspension of dividends, a 20 percent reduction in cost of salaried employees and reductions in the production of trucks and large vehicles.The New York Times: G.M. Suspends Dividend and Plans Layoffs (July 15, 2008)
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GM Announcement July 15, 2008 Questions
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from july to december 2008 1 AnswerPakistan had been an important element in the war on terrorism before 2008, but with militant attacks across South Asia being linked to Pakistan by its neighbor... read more -
What do you think is going to happen to YouTube's popularity on July 15? 6 AnswersActually, on the date July 15, I think there will be many more users on the site because they will want to experience the new layout for themselves. After that,... read more -
What are GM passenger car sales in China in 2008? 1 AnswerAround 500,000 units which has gone up from 300,000 in the past five years, although has decreased since last year. Follow the link for more into. Hope this hel... read more -
July 2: Welcome to the "Question of the Day" contest! Winner Announced! 7 Answers#beast1oh1 -- Its a very timely and a very interesting question. I've often wondered what my husband is going to take into the bathroom with him if the newspap... read more
view more questions...
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