General Motors considers layoffs, brand sale: report

0 Comments | AFP, July, 2008

WASHINGTON (AFP) — Leading US automaker General Motors is preparing to cut thousands more white-collar jobs and is thinking about selling more of its brands, The Wall Street Journal reported Monday.

Citing unnamed people familiar with the matter, the newspaper said that both moves were part of a broader re-evaluation of GM's strategy aimed at returning to profitability in 2010.

The job cuts are likely to be approved when GM's board of directors meets in early August, the report said.

The board will probably also hear management's latest thoughts on whether GM should trim the number of brands it offers in the United States, according to the Journal.

The automaker currently sells vehicles under eight different brands, but most have trouble attracting...