General Motors (GM) expects $1.5B charge after announcing voluntary separation program

General Motors (GM) Hyundai in talks to acquire GM’s India plant

March 13, 2023 3:00 PM EDT

Hyundai Motor Co announced Monday that the Korean automaker has agreed to a potential acquisition of General Motors' (NYSE: GM) plant in India.

A final deal is subject to meeting certain conditions including obtaining "regulatory approvals from relevant government authorities and all... More

Ford Motor and GM 'continue to drive the core to future transition' - BofA

March 13, 2023 8:56 AM EDT

The General Motors (NYSE: GM) and Ford Motor (NYSE: F) restructuring plans are "chapters in Core to Future transition," BofA analyst John Murphy said in a note Monday.

The analyst, who maintained a Buy rating on both companies, stated that the plans were not big news but needed.

"In recent days, General Motors (GM) has provided additional color... More

GM offers salaried employee buyouts, will take up to $1.5 billion charge

March 9, 2023 9:16 AM EST

By David Shepardson and Nathan Gomes

(Reuters) -General Motors Co on Thursday said it was offering buyouts for most of its salaried employees and expects to take a pre-tax charge of up to $1.5 billion to cover the costs.

The announcement comes as layoffs by U.S. companies in the past two months touch their highest since 2009, with the tech sector accounting for more than a third of the over 180,000 job cuts announced.

The largest U.S. automaker in January disclosed a $2 billion cost cut target, including reducing employment through attrition.

... More

GM (GM) announced voluntary separation program

March 9, 2023 9:04 AM EST

General Motors (NYSE: GM) disclosed:

On January 31, 2023, General Motors Company (the Company) announced its intention to implement a cost reduction program to reduce fixed costs by $2.0 billion on an annual run rate basis by 2024 (the Program), with 30% to 50% of these savings expected during 2023 and the full amount expected in 2024. The Program is expected to drive cost efficiencies by (i) reducing vehicle complexity and expanding the use of shared subsystems... More

General Motors (GM) Sees Producing About 9% Fewer Lyriqs in U.S. this Year Than Initially Planned - WSJ

March 8, 2023 12:02 PM EST

(Updated - March 8, 2023 12:02 PM EST)

General Motors (NYSE: GM) Sees Producing About 9% Fewer Lyriqs in U.S. this Year Than Initially Planned - WSJ

GM Making About a Dozen GMC Hummers a Day, Below Initial TargetsGM's EV Push Stalls Amid Sluggish Rollout of GMC Hummer, Cadillac Lyriq... More