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GMAC restructuring will shed 930 jobs from financing branch
Two days ago we told you about Cerberus head Stephen Feinberg's rather sanguine thoughts on Chrysler. Cerberus' other big auto investment, GMAC, is having a few issues of its own. Last year GMAC's auto lending division posted a profit of $1.77 billion, but losses in the mortgage loan division turned that into a $2.33 billion for the entire company. So, GMAC is doing what companies often do in these situations: positioning itself "with a more competitive cost structure and greater operational flexibility for future growth." Which is done by ... Read more →
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GMAC restructuring will shed 930 jobs from financing branch 1 year ago on Autoblog
Two days ago we told you about Cerberus head Stephen Feinberg's rather sanguine thoughts on Chrysler. Cerberus' other big auto investment, GMAC, is having a few issues of its own. Last year GMAC's auto lending division posted a profit of $1.77 billion, but losses in the mortgage loan division turned ...
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