GMAC will cut about 930 jobs
Feb. 25
GMAC LLC said last week it plans to cut about 930 jobs in its auto finance business as it restructures to cut expenses in the wake of tightening credit markets and heavy losses last year. GMAC expects to save about $175 million per year, but the company expects to spend $65 million to $85 million in 2008 for employee severance and office-closing expenses.
Read the full story at Cherry Hill Courier Post
Posted Under: Auto Dealers