GM ponders layoffs, brand sell-off

DETROIT, July 7 (UPI) -- U.S. automaker General Motors Corp. is weighing cutting thousands of white-collar jobs and whether to sell one of its brands, industry observers say.

The moves, which also could include ending a brand instead of selling it, are part of the automaker's re-evaluation of its strategy and an internal projection of returning to profitability by 2010, sources familiar with the situation told The Wall Street Journal.

The job cuts likely would be approved when GM's board of directors meets in early August, sources told the Journal. The board also may hear management's opinions on whether GM should reduce the number of brands -- currently eight -- it offers in the United States.

The company has already voted to put its Hummer division up for sale.

A company spokesman offered no comment to the Journal on either the job or brand cuts.