Honestly, I thought that the financial results would be even worse. Is there anyone here who believes in something like sharp recovery? I doubt it. The question though is will there be layoffs, I hope not, but I am preparing.
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"Deliberate action" = plant closings, outsourcing, layoffs and buyer incentives.
No one is safe.
Regardless of the hearsay, make sure you’re ready to not have a job. You don’t want to not be able to pay your rent because of unforeseen circumstances outside of the control of the executives.
Many of age to retire, eligible for a lump sum pension, are strongly considering retirement by September 1st. Lump Sum Pension are going to drastically drop effective October 1st due to the sharp increase in interest rates; indirectly proportional to the lump sum payout.
No doubt, GM and other automotive OEM's are paying attention to those planning the retire and its impact on headcount.
When Mary says they are prepared to take deliberate action it means they already have the layoffs planned out. The shareholders want to know GM will make the hard decisions.