Financial Times FT.com

GM outlines restructuring plan

By Bernard Simon in Toronto

Published: December 2 2008 22:39 | Last updated: December 2 2008 22:39

General Motors is reviewing its Saturn brand and will demand fresh concessions from the United Auto Workers union, under a restructuring plan submitted to Congress on Tuesday.

The biggest Detroit-based carmaker, which has warned that it is in danger of running out of cash early next year, also said that it would relegate Pontiac to a speciality brand with reduced product offerings.

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