GM is making an aggressive push to save its South Korean business - but the clock is ticking

Posted On: Feb 13, 2018   |   Posted By: Business Insider

GM is making an aggressive push to save its South Korean business - but the clock is ticking

GM is taking urgent steps to fix its ailing South Korean business.
The carmaker isn't yet ready to exit the market or sell GM Korea, as it did with Opel in Europe in 2017.
The first step toward rightsizing the operation is the closure of an underutilized factory.
General Motors is moving quickly to fix its business in South Korea.
After CEO Mary Barra highlighted problems with GM Korea on the carmaker's fourth-quarter earnings call, the company announced on Monday that it would shutter its plant in Gunsan by May, citing capacity utilization of just 20% for the past three years.
GM expects the closure to account for an $850-million special charge that it will report at the end of the second quarter. (Gunsan builds just two vehicles, the Cruze compact sedan and the Orlando, a compact hatchback.)
Given Barra's bold moves to streamline GM operations globally, including selling Opel in 2017 and withdrawing from the Russian market, it initially looked as though the company was preparing to call it a day in Korea ....

Continue reading ...

 






The last Posts from Business Insider



T-Mobile attempts to reinvent customer service with its new ‘Team of Experts'

T-Mobile attempts to reinvent customer service with its new ‘Team of Experts'

In an attempt to reinvent how it approaches customer care, T-Mobile announced its 'Team of Experts.' Now, when a customer contacts T-Mobile, they're directed to the same team... Read more ...

The Alexa-Cortana crossover is now available to the public

The Alexa-Cortana crossover is now available to the public

More people will be able to access the Alexa-Cortana collaboration their companies unveiled last year, now that the team-up is available as a public preview. Unfortunately, you... Read more ...

Third-party calling apps no longer work with Android 9.0 Pie

Third-party calling apps no longer work with Android 9.0 Pie

There is a lot to love about Android 9.0 Pie. But as users update their phones, they noticed an annoying new issue: Google removed a workaround an Android 9.0 Pie that... Read more ...

New Fortnite patch adds Heavy Sniper and two new game modes

New Fortnite patch adds Heavy Sniper and two new game modes

We've got another somewhat small Fortnite update landing today, but the new weapon it adds could very well be a terror to encounter on the battlefield. Most Fortnite players... Read more ...

T-Mobile's latest Un-carrier move isn't sexy, but it could be a big deal

T-Mobile's latest Un-carrier move isn't sexy, but it could be a big deal

T-Mobile just took the wraps off its latest Un-carrier move, and it's not what anyone was expecting. Instead of rolling out changes to its phone plans or a new TV streaming... Read more ...

Google One launches with cheaper cloud storage plans

Google One launches with cheaper cloud storage plans

For some reason, Google is rebranding Google Drive storage plans under the name Google One. Along with the rebranding, Google is also improving its pricing in ways that give... Read more ...

Dead Cells Vs. Hollow Knight | Versus

Dead Cells Vs. Hollow Knight | Versus

Dead Cells and Hollow Knight are 2 of the very best Metroidvania-style games available on the Nintendo Switch, but which one is the right game for you? Read more ...

Here's how to safely download ‘Fortnite: Battle Royale' on an Android device

Here's how to safely download ‘Fortnite: Battle Royale' on an Android device

'Fortnite: Battle Royale' is one of the biggest games in the world right now, and it's finally on Android, even if getting set up is a bit long-winded. Here's how to play... Read more ...

OneDrive's 'Known Folder Move' now rolling out to everyone

OneDrive's 'Known Folder Move' now rolling out to everyone

The new feature will make sure OneDrive automatically backs up and protects your pictures, documents, and desktop folders. OneDrive is making it a little easier to make sure... Read more ...

Telltale's The Walking Dead: The Final Season Full Release Schedule Revealed

Telltale's The Walking Dead: The Final Season Full Release Schedule Revealed

Telltale Games has announced the release schedule for all four episodes of The Walking Dead: The Final Season. Telltale Games tweeted this news just a day after the release of... Read more ...