A shiny new General Motors Corp. will rise Friday from the twisted heap of metal — and crippling debts — of the old.
It will have fewer workers and brands, but it will have billions of dollars in government bailouts.
After clearing last minute court hurdles Thursday, GM was expected to announce Friday that it is poised to exit from Chapter 11 bankruptcy protection in the United States.
There is widespread speculation it will unveil a new look, changing its square logo to green from blue to show consumers that it really is leaner and greener. It is also slashing jobs in a drastic bid to cut its costs.
But experts say GM must produce vehicles people want to buy and change its image from a lumbering bureaucracy that makes gas guzzlers to one on the cutting edge of efficiency and quality.
“What they have to change is the essence of the company. For a car company, that means the cars,” said Joseph D’Cruz, professor of strategic management at the University of Toronto’s Rotman School of Management.
The Canadian operations will be unaffected by Friday’s announcement. GM Canada went through its own painful restructuring, though it did not file for court protection here.