AUTOMAKER DAEWOO CUTS 70 JOBS

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(Aug. 31, 2001) -- Daewoo Motor America, Compton, Calif., laid off 70 of its 225 staffers this week. No one in marketing was impacted, an insider said.

A dealer who asked not to be named said he got a memo from the South Korean car importer discussing the cost cuts.

The newest car marketer in the U.S. spent just $1.9 million in measured media in the first quarter of 2001, according Taylor Nelson Sofres' CMR.

Daewoo called off a review for its first agency of record earlier this summer. General Motors Corp. is in talks to acquire Daewoo's financially troubled parent. -- Jean Halliday

Copyright August 2001, Crain Communications Inc.

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