Story from the Detroit Free PressThree months after emerging from bankruptcy as a new company, General Motors Co. top executive says the automaker has “made a lot of progress.”
"We've made a lot of progress in 90 days, but we don't think for a second that we can begin to ease off the accelerator," Henderson said in a statement issued this morning.
Henderson is holding a conference call with reporters this morning to provide a general business update of the company. GM says it won’t provide details about its financial situation.
A statement by the company reiterated that GM is continuing to prepare for the launch as a public company “as soon as practical.”
The company is aiming to have its “fresh-start” accounting completed by March 31, which includes determining the fair value of the GM’s assets and liabilities.
While GM’s attempt to sell the Saturn brand to Penske Automotive Group fell apart last week, GM said it “continues to work toward closing the sale of the Hummer and Saab brands.”
GM said it has made further progress on agreements and necessary regulatory approvals required to sell Hummer to Sichuan Tengzhong Heavy Industrial Machinery Co. Ltd.
The automaker also released its latest headcount numbers: GM’s U.S. salaried workforce has dropped from 29,700 workers at the end of 2008 to 24,300 workers as of Oct. 7 — an 18.2% decline. Its hourly employment during the same time period fell from 62,000 workers to 49,200 — a 21% decline.
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