February 28, 2018 / 1:09 AM / a year ago

GM Korea to sharply cut number of executives - internal letter

SEOUL, Feb 28 (Reuters) - General Motors’ South Korean unit plans to slash the number of its executives as part of efforts to cut its structural costs, an internal letter seen by Reuters showed.

GM Korea plans to cut the number of executives ranked managing director or more senior by 35 percent and reduce the number of directors and team leaders by 20 percent, said the letter, which was addressed to staff.

GM Korea also plans to slash the number of so-called “international service personnel” executives, who have been dispatched from GM headquarters and other affiliates overseas, by 45 percent, according to the letter.

Reporting by Hyunjoo Jin; Editing by Edwina Gibbs

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