GM needs severe and quick restructuring: Canada

Mon Apr 27, 2009 3:13pm EDT
 
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OTTAWA (Reuters) - General Motors Corp must restructure itself "in a severe and quick way" if it is to survive, Canadian Industry Minister Tony Clement said on Monday.

GM said earlier in the day it expects to reduce its hourly Canadian work force to 4,400 by 2014 from 10,300 in 2008, mostly through previously announced plant closures.

"GM has to restructure itself in a severe and quick way in order to ensure that it can survive for the future and create jobs and opportunities," Clement told Parliament.

(Reporting by David Ljunggren; editing by Rob Wilson)

 
<p>The GMC logo is seen on the grill of car at the Peoria Pontiac GMC car dealership in Peoria, Arizona April, 25 2009. REUTERS/Joshua Lott</p>