General Motors announces a major restructuring of its GM Holden Australian operation, cutting production 16% and slashing jobs at its manufacturing operations by about a quarter. Output will be reduced from 400 cars a day to 335 at its South Australian plant by Aug. 1, with the loss of about 400 jobs from its 2,200-strong workforce. Another 100 jobs will be lost at its product development operation in Melbourne, Victoria. GM Holden Chairman and Managing Director Mike Devereux says the ...

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