From the
Detroit News:
General Motors Corp. is expected to announce "important changes" to its automotive operations Friday when the automaker releases third-quarter financial results, according to an internal e-mail obtained by The Detroit News.
According to the e-mail sent to company executives Monday, CEO Rick Wagoner and President and Chief Operating Officer Fritz Henderson will announce changes to employees at 11 a.m. Friday that address challenges "brought on by the volatile global economic situation."
"Clearly given the challenges the industry is facing, we're probably going to have to make additional adjustments," GM spokesman Tom Wilkinson said today. "It's a very challenging time right now."
It is not spelled out in the e-mail what specific changes might be announced. But late last month, Wagoner and Henderson wrote in another letter to executives that the automaker will have to cut more white-collar jobs later this year and early next year, including involuntary layoffs, suspend the company match in employee 401(k) retirement accounts and make other benefit cuts.
