Looks like yesterday's Ford cuts are inspiring the General to make similar edits to their own restructuring plan. The AP is reporting this morning GM's top managers are working on additional restructuring measures to deal with the declining U.S. auto market and an accelerated shift from trucks to more fuel efficient vehicles, a person familiar with the plan told the AP late Wednesday. The person, who requested anonymity because the plan is still being devised, would not give details of what is under discussion by Chairman and Chief Executive Officer Rick Wagoner and his top managers. In addition, everyone's favorite Murdoch-owned tabloid respected elder statesman of the business community tells us the new restructuring plan is to be announced at the company's annual meeting in Wilmington, Del., on June 3.
The new steps likely will involve further cost cuts including reduced truck and sport utility vehicle production and a faster rollout of more car and crossover models. Oh, GM, look at you, following Ford. We're so proud how our babies are all growing up all at the exact same time. It's like you all misread the tea leaves all at the same time.