Corp. restructures again (see feature, p.65). The upshot marks another turn in GM's corporate sojourn that is slowly becoming ho-hum. GM wants to cut 5,000 engineering jobs by 1997, spin off Electronic Data Systems Corp. to let top brass devote more attention to cars and trucks, and speed development of new vehicles by 25%. Sounds great, but GM's road to competitiveness raises some questions. The company hired 2,000 engineers just last year; now it wants to oust more than twice that many. Top brass say market share will increase to 35%, despite a continuing drop, which as of July had sunk it to 32.2%. And this expected share gain is to come in the face of undisputed reports that the corporation is delaying the launch of 14 models - replacements for some of its most popular vehicles - by six months or more. When asked about the confusing picture GM presents, G. Richard Wagoner Jr., president of North American Operations, says he doesn't care and would do another restructuring to get competitive. At least he's not in denial. And with the expected hiring of 30 brand managers and up to 18 executive vehicle line managers, some possibly from outside the company, to take command of products, next year promises more fireworks at GM.