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General Motors, owner of Chevrolet, warned its employees in Brazil that new local investment depended on a painful plan to make the country profitable, according to a memorandum seen by Reuters on Saturday (19). ] In a message posted in the factories, GM's general manager for Brazil and Argentina, Carlos Zarlenga, said that after suffering heavy losses over the last three years, the company said it would not be possible. operation has reached "a critical moment that demands sacrifices from all". 19659003] The memorandum referred to comments by chief executive Mary Barra during a presentation to investors last week on the challenges in South America. "We will not continue to use capital to lose money," she said. […]
