Wednesday, July 16, 2008

T V Jul 15- GM sets new revival plan

Jul 15 - General Motors announced plans to cut $10 billion in costs and repair its balance sheet as the worst sales slump in a decade threatened its future.

The beleaguered automaker plans to slash thousands of white-collar jobs, cut its dividend, seek new financing, and sell some of its assets in an attempt to prevent a slide into bankruptcy

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