And was able to cut legacy employee costs

  • Date:2018-12-22
  • General Motors is a multinational car manufacturer that produces cars in 35 countries around the world and has a major presence in China. The company is led by iconic CEO Mary Barra. GM strives to produce a zero-emission car with zero collisions and no congestion. The company is headquartered in Detroit, Michigan, in the United States. GM suffered during the global recession and was forced to file bankruptcy for protection from creditors.

    It emerged leaner with a reduced debt profile and liabilities and was able to cut legacy employee costs and responsibilities, as well as shed loss by making brands like the Hummer. The new GM after bankruptcy filed a $20 billion IPO in 2010.GM outperformed its 5-year average operating margin in 2017 due to lower automotive cost of sales, which were mostly driven by lower cost of sales at GM North America (GMNA) and overall automotive selling, general, and administrative expenses. The rest of GM's management metrics were negative because of a non-operating charge due to changes in the corporate tax laws in the United States. Overall, GM management is indeterminate because of the charge taken for non-operating tax purposes.

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