GM set to cut 1,200 dealers

General Motors Corp is expected to slash up to 1,200 dealers as it struggles to dramatically pare down its operations and eliminate billions of dollars of costs ahead of an anticipated bankruptcy filing by the end of this month.

GM's cuts are expected to be announced near midday on Friday and follow the announcement on Thursday that smaller rival Chrysler would eliminate almost 800 of its 3,100 dealers within the next few months.

The elimination of U.S. dealerships and the jobs that go with them, was an anticipated, but painful, part of the U.S. auto industry shake-up following the economic slowdown, global credit crunch and U.S. sales collapse to less than 10 million vehicles a year from more than 17 million.

Read Full Article from Reuters

- Posted: 2009-05-15 10:31:28

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