UPDATE 1-GM targets $500 mln in cost savings, job cuts in Europe

Newswire

DETROIT, Oct 31 (Reuters) - General Motors Co is targeting $500 million in fixed-cost savings between 2013 and 2015, and it plans to make further job cuts in Europe as it seeks to break even in the region by mid-decade, the automaker said on Wednesday. "These are net fixed-cost reductions, not gross fixed-costs reductions" between 2013 and 2015, GM Vice Chairman Steve Girsky, who is leading the restructuring at Opel and Vauxhall, said on a conference call on ...

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