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DETROIT — General Motors reported a $722 million fourth-quarter loss on Tuesday and offered more buyouts to all 74,000 of its unionized employees in another bid to reduce costs.
Globally, G.M.’s automotive operations lost $1.6 billion in 2007, including $1.3 billion in the fourth quarter, down from $6.1 billion a year earlier. Sales grew 3 percent in 2007, to almost 9.4 million, barely enough to retain its title as the world’s largest automaker over its surging Japanese rival Toyota.
To cut costs further in the United States, G.M. said employees represented by the United Automobile Workers union can elect to take buyouts of up to $140,000.
http://www.nytimes.com/2008/02/12/business/12cnd-auto.html?ref=business
Globally, G.M.’s automotive operations lost $1.6 billion in 2007, including $1.3 billion in the fourth quarter, down from $6.1 billion a year earlier. Sales grew 3 percent in 2007, to almost 9.4 million, barely enough to retain its title as the world’s largest automaker over its surging Japanese rival Toyota.
To cut costs further in the United States, G.M. said employees represented by the United Automobile Workers union can elect to take buyouts of up to $140,000.
http://www.nytimes.com/2008/02/12/business/12cnd-auto.html?ref=business
