GM avoids bankruptcy for South Korean unit with union deal [CNN]
General Motors Company (GM)
Last general motors company earnings: 2/5 08:05 am
Check Earnings Report
US:NYSE Investor Relations:
gm.com/investors/index.html
Company Research
Source: CNN
GM avoids bankruptcy for South Korean unit with union deal General Motors has reached an 11th hour deal with its South Korean union to stop it from filing for bankruptcy for GM Korea. GM Korea, which includes four auto assembly plants and four engine plants, has been losing money for years. The unit lost 148 billion South Korean won last year, or about $139 million. General Motors had announced plans to file for a bankruptcy for its Korean unit if it couldn't reach a cost-cutting deal with its union. Monday evening it said it reached a deal on an undisclosed cost-cutting package. It will have about 13,000 employees once it completes plans it announced in February to shut one of its South Korean assembly plants. It is also trimming staff through a buyout package offered to employees. The staff buyouts and plant closure are not related to the cost cutting deal with the union. The company is a distant third in terms of car sales in South Korea, well behind Hyundai and Kia which are both
Show less
Read more
Impact Snapshot
Event Time:
GM
Last Price
Price Change
Price Change%
Volume Shares
Max Up
Max Down
%
Volume Ratio
Performance Comparison
Updated
|
Event Day
Stock performance from the time of news release until the following 4pm ET market close
|
Last price at news event
|
Since Event
Multi-day stock performance from the time of the news release
|
|---|---|---|
|
EVENT DAY
Stock performance from the time of news release until the following 4pm ET market close
|
LAST
PRICE AT NEWS EVENT |
SINCE EVENT
Multi-day stock performance from the time of the news release
|
| Last Price | ||
| VWAP | ||
|
High:
|
Max Up |
High:
|
|
Low:
|
Max Down |
Low:
|
|
%
|
Post news range |
%
|
|
|
Price change |
|
|
|
Price Change Percentage |
|
|
|
S&P 500 (SPX) |
|
|
%
|
Volume ratio |
%
|
| Volume | ||
| Ticks | ||
|
|
Avg transaction size |
|
Don't Miss Out On The Next BIG Stock Move
Event day
Event Day Chart will not be displayed beyond 90-day period of the event
Performance since event
Time And Velocity Analysis
Be the first to know
Opt in for alerts from News Quantifed
Sign Up Today
Opt-in for
GM alerts
Learn More With NQ
Reading the Impact Report
Help Me Understand This Data
Help Me Understand This Data
How NQ Works
What is news-based trading?
And why is it so successful?
And why is it so successful?
Movers & Shakers
The biggest gainers and losers and WHY it moved
GM alerts
High impacting General Motors Company news events
Weekly update
A roundup of the hottest topics
GM
News
- Why the skid in Tesla's stock price may be far from over [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Musk says Tesla charger network will grow, days after layoffs [Yahoo! Finance]Yahoo! Finance
- Ford Announces Plan To Have A New CFO, One Of The Big Auto Jobs [Forbes]Forbes
- Ford's Lawler to hand over CFO role to ex-Lucid executive, transition to vice chair [Yahoo! Finance]Yahoo! Finance
- The Chevy Malibu Was So Uncool It Was Cool [The New York Times]The New York Times
GM
Earnings
- 4/23/24 - Beat
GM
Sec Filings
- 5/2/24 - Form PX14A6G
- 4/25/24 - Form PX14A6G
- 4/24/24 - Form ARS
- GM's page on the SEC website