The speculation is now over: GM has officially followed Chrysler into bankruptcy.
There are few differences in the story this time around: Jobs will be lost, cuts will be made, uncertainty in the market will continue. A key difference, however, is the focus of the news. More agencies are paying attention to the impact the move will have on suppliers to the industry. GM accelerated payments to some suppliers, with the hope of softening the blow, and the White House released a statement promising continued support from the Treasury Department’s Supplier Support Program during the process.
Even with these measures, the impact will ripple through the supply chain and have potentially devastating effects. All we can do as a Tier 2 supplier is manage the …
GM’s Bankruptcy Filing Preceded by a Period of Long Decline
The speculation is now over: GM has officially followed Chrysler into bankruptcy.
There are few differences in the story this time around: Jobs will be lost, cuts will be made, uncertainty in the market will continue. A key difference, however, is the focus of the news. More agencies are paying attention to the impact the move will have on suppliers to the industry. GM accelerated payments to some suppliers, with the hope of softening the blow, and the White House released a statement promising continued support from the Treasury Department’s Supplier Support Program during the process.
Even with these measures, the impact will ripple through the supply chain and have potentially devastating effects. All we can do as a Tier 2 supplier is manage the …
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