GM To Focus On Europe
The unsettled economic climate in Europe has undermined General Motors’ efforts to revitalize the company’s operations, GM Chairman and Chief Executive Officer Dan Akerson said Tuesday. Fixing GM’s operations in Europe remains the company’s top priority, added Akerson following the maker’s annual meeting. He noted GM of Europe has succeeded in striking new labor agreements with unions in both Poland and Great Britain and is “talking with unions in Germany” about possible concessions that could prove critical to GME’s turnaround. GM had hoped its European operations would be back in the black by 2011 but they instead went $700 million into the red. Akerson said he is looking at cost-cutting throughout the global General Motors empire.