As April 20th dawns without a wage deal with its workforce, General Motors’ troubled Korean division could be well down the road to bankruptcy.
GM Korea, which recently announced the closure of an assembly plant amid a continued loss of sales and money, needed to reach a deal with its 16,000 workers by today’s date in order to gain assistance from the South Korean government. The division builds the Chevrolet Spark, Trax, and Buick Encore for U.S. customers. Since revealing its restructuring plan back in February, GM Korea failed to gain much-needed wage concessions from its aggressive labor union.
Without this, bankruptcy might be the only option, the automaker claims. Read More >














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