GM Cost Cutting on Track

By: Associated Press
By: Associated Press

General Motors remains on track to meet its goals for cutting structural costs.

The automaker last year persuaded about 35-thousand hourly employees to leave. It also secured health care concessions from the UAW in 2005. But GM CFO Fritz Henderson says despite the progress, efforts to constantly cut such expenses won't let up.

GM lost three billion dollars in the first nine months of last year after losing more than ten billion in 2005. The red ink dropped to 91 million in the third quarter last year.

The company's fourth-quarter and full-year results will come out around the end of the month.

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