So it seems even white collar jobs aren’t exempt from being slashed. In an interesting move, General Motors has hired several accounting firms to help them identify white-collar jobs they can cut globally to become more efficient.
In 2009, GM received $50 Billion from taxpayers to restructure the company, and by all estimates they’ve done a tremendous job with the turnaround. The measures to slash the white collar jobs are an effort to make them more competitive in the marketplace.
Bloomberg News reported that GM has retained Miami-based Hackett Group to help identify areas where it can save money in its North American operations.
The cost-cutting goal is driven by GM CEO Dan Akerson’s desire to improve the automaker’s profit margins. Boosting margins just by cutting white collar jobs is going to be difficult. However if they can pull this off, they will be poised for success.
Other car makers, such as Hyundai and Ford have seen a resurgence in recent years as more car shoppers are looking for great vehicles at great prices. Both companies have solid management teams and a laser focus for the future.