Left Menu
Development News Edition

GM CFO says automaker must cut costs to avoid 'serious damage'

Reuters | Washington DC | Updated: 27-03-2020 04:10 IST | Created: 27-03-2020 04:10 IST
GM CFO says automaker must cut costs to avoid 'serious damage'

General Motors Chief Executive Mary Barra and Chief Financial Officer Dhivya Suryadevara told employees on Thursday the company needed to take immediate aggressive steps to cut costs. On a webcast, Suryadevara warned "if we don’t take significant austerity measures we will do serious damage to the long-term viability of our company," according to a recording heard by Reuters.

Barra told employees the largest U.S. automaker is "aggressively taking costs out of the business wherever we can by suspending work on some product programs and cutting our marketing budgets and hundreds more actions."

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

Download The Devdiscourse News App for Latest News.



Education post-coronavirus: Schools to rush for more digitalization

Digital education would undoubtedly boom in the post-coronavirus world, supported by educational institutions that have discovered its efficiency during the crisis, but it is still not expected to outshine traditional classroom learning....

Public health care post-COVID 19 to go for revamping, not rebooting

Until now, the economies used to classify healthcare sector under social expenditure. However, the devastation caused by COVID 19 pandemic has upgraded public healthcare on topmost priority and core economic activity for controlling future ...

Coronavirus lockdowns to speed up long-pending revamping of supply chains

With millions of production lines impacted, business disruptions to some extent are unavoidable and the lessons learned from this turbulence will leave an everlasting impact on both global and local levels of supply chains....

COVID 19 to catalyze the redefinition of urban planning and sustainability

Until now the urban planning was focused on mitigation to natural disastrous, climate change, pollution, chronic illness and lifestyle diseases. However, the global pandemic of novel coronavirus is going to change the whole narrative of urb...


Latest News

Netherlands tops 10,000 coronavirus cases

The number of confirmed novel coronavirus cases in the Netherlands passed the 10,000 mark on Sunday, the authorities said, as the country focuses on building up herd immunity rather than confining the population of 17 million. A total of 77...

Guj: Over 2,000 held for defying lockdown, quarantine orders

As many as 2,041 people have been arrested in Gujarat for allegedly violating the government orders regarding the lockdown and home quarantine, a top police official said on Sunday. The arrests were made on Saturday on the basis of 1,089 FI...

White House-led airlift of urgently needed medical supplies arrives in New York

A planeload of desperately needed medical supplies arrived in New York from China on Sunday, the first in a series of flights over the next 30 days organized by the White House to help fight the coronavirus, a White House official said. A c...

Congress discusses ways and means to combat COVID-19

A meeting of Congress functionaries was held here to assess and discuss the preparedness of the party in fighting against the pandemic of COVID-19, which has infected 979 in India so far. The meeting involved the participation of All India ...

Give Feedback