AUTOS: GM Gets a Little Slimmer

AUTOS: GM Gets a Little Slimmer

For the first time since 1980, General Motors ordered deep cuts in the dividends it pays to stockholders -- from 75 cents to 40 cents a share. GM also said it will curtail executive bonuses this year and phase out 15,000 white-collar jobs by 1993. The dividend cut alone will save $840 million a year.

Industry experts foresee even worse news ahead for the company: they project a $1.4 billion loss, the firm's worst ever, when fourth-quarter 1990 earnings are announced this week. But Wall Street analysts applaud GM's moves, saying they indicate that the world's largest automaker is preparing for...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!