Speculation building that GM will announce more cuts Friday

Speculation is building that General Motors is announcing major cuts Friday.

GM will release its third-quarter earnings report Friday morning and then hold a conference call with industry analysts and the media to review steps its taking to preserve its cash reserves.

Media reports indicate those could include laying off more salaried staff and cutting benefits.

Cnbc.com reported Thursday that GM will announce that it is saving money by delaying the launch of many new models. This could affect the Lordstown complex because it is preparing to launch GM’s next compact car, the Chevrolet Cruze, in 2010.

For more information, see Friday’s Vindicator or www.vindy.com.