Additional cost-reduction moves could be made after General Motors Corp.’s money-losing European operations slashes its annual structural expenses by €500 million ($600 million) and hacks 12,000 jobs off its payroll by 2006. “We think it’s an important step for us,” GM Chief Financial Officer John Devine says during a conference call to discuss third-quarter earnings. “We really have to address the issue now. Could there be actions after that? Sure. But we think this is the immediate first ...

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