GM sending Vice Chair to try and fix European operations.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Posted: 07/13/2012
(WXYZ) - General Motors is trying to accelerate its turn around in Europe. The automaker is sending Vice Chairman Stephen Girsky to be the interim head of European operations.
Girsky is the third person to try and steer GM out of financial trouble in Europe, in the last year. All of the American automakers are suffering huge losses in Europe. GM Europe lost more than $250 million in the first quarter of the year.
Europe is undergoing problems similar to the recent recession in America. Several countries have financial problems, unemployment is high and most people are afraid to spend money right now. Strict labor laws prevent the automakers from downsizing, like they did in North America.
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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