General Motors to cut jobs
General Motors Co. (GM) has hired management consultant Hackett Group (HCKT) to help identify areas to cut an undetermined number of white-collar jobs, said two people familiar with the matter.
Hackett Group, based in Miami, will help identify opportunities for cuts and efficiency improvements at headquarters and elsewhere in North America, said the people, who asked not to be identified revealing private plans. GM has been trimming engineers and other white-collar staff, said Jay Cooney, a spokesman, who declined to comment on whether the Detroit-based automaker had hired Hackett Group.
Chief Executive Officer Dan Akerson has been wringing out costs in recent months as he pushes the automaker to improve margins. The goal is to beat Ford Motor Co. (F)’s forecasted earnings before interest and taxes of 7 percent of sales and target Hyundai Motor Co.’s 10 percent. GM won’t use mass cuts or buyouts as it did before its 2009 bankruptcy, Cooney said.
Full story: GM Said to Hire Hackett to Identify Job Cuts – Bloomberg.