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GM CEO to announce further restructuring steps

Mon Jul 14, 2008 4:16pm EDT

DETROIT, July 14 (Reuters) - General Motors Corp GM.N Chief Executive Rick Wagoner is set to announce further steps on Tuesday morning to cut costs in the face of slumping sales.

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GM executives, including Wagoner, scheduled a series of briefings for employees, analysts and reporters on Tuesday, starting at 8:30 a.m. EDT (1230 GMT), the company said in a statement.

The company said the briefings would detail what GM is doing to "align" its operations to current market conditions.

The No. 1 U.S. automaker has been under intensifying pressure to cut costs because of a rapid shift away from trucks and SUVs and a decline in overall sales. (Reporting by Kevin Krolicki; editing by Jeffrey Benkoe)

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