Report: GM discontinues plant upgrades that Barra is doing for cost savings – General Motors Company (NYSE: GM)

General Motors (NYSE: GM) challenges planned renovations for its Michigan design studies and stops a project to update its global propulsion headquarters in an attempt to save money Automotive News reports.

Plans for Detroit area projects, expected to cost hundreds of millions of dollars, were described in a letter sent to GM staff yesterday by CEO Mary Barra, according to the report.

"Today, our structural costs are not aligned with the market world or the priority priorities for prioritization," Barra said. "We must take significant steps to tackle this while our company and the economy are strong." [1[ads1]9659002] A previous report today said GM offered voluntary retirement packages to 18K paid workers in North America.