GM memo: We must cut costs, can't wait to see what happens in industry [View all]

[TexasTowelie]

More details are trickling out on General Motors' plans to cut costs and eliminate thousands of jobs.

In a memo labeled "leader talking points," the company acknowledged that "this is big news and may have caught you and others by surprise."

Noting strong third-quarter earnings, the memo says, "We can't confuse progress with winning.

"Today, our structural cost is not aligned with the market realities nor the transformational priorities ahead. We must take significant actions now while our company and the economy are strong," it said.

Read more: https://www.freep.com/story/money/cars/general-motors/2018/11/03/general-motors-memo-buyout/1859186002/