Auto giant GM seeks further European savings
1st November 2012
VAUXHALL'S parent company General Motors plans to cut costs by a further $500m (£310m) at its troubled European division by 2015 and expects 2,600 job losses this year.In a trading update, the Detroit-based automotive giant said the it expects its European arm, which includes Opel as well as Vauxhall, is expected to lose $1.5bn-1.8bn this year.Despite the ongoing problems in Europe, where both the euro zone crisis and over-supply continues to hit sales, GM revealed strong quarterly profits.It made $1.8bn overall in the three ......for the full story register now for free or login below...
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