General Motors (GM) is to cut 21,000 US jobs this year and phase out its Pontiac brand, as it aims to meet a 1 June deadline to revamp its business.

通用汽车计划今年削减21000个工作岗位，逐渐停止庞蒂亚克商标，计划截止在6月1日前重新调整业务。

GM has been struggling with falling demand in the economic crisis

GM has to complete its restructuring（重组） by then to gain the government loans it needs to avoid bankruptcy¹ protection.

After shedding（脱落） Pontiac by the end of 2010, GM will focus on its Chevrolet, Cadillac, Buick and GMC brands.

The firm also said it hoped to halve²（对分，减半） its debts by persuading bondholders（公司债所有者） to swap³ $27bn (£19bn) of bonds for shares.

The loss of 21,000 hourly jobs includes an additional 7,000 to 8,000 employees from a plan submitted to the government on 17 February.

The cuts mean that its American workforce⁴ will be reduced from 61,000 to 40,000.

GM also wants the government to swap（交换，交易） half its current loans for a 50% stake.

The government has so far given GM $15.4bn in loans.

Shares in General Motors rose 21%, or 35 cents, to $2.04.

The Pontiac brand has been in existence since 1926

Nostalgia⁵（乡愁，怀旧之情）

GM's chief executive Fritz Henderson said the decision to eliminate Pontiac had been tough because of the 83-year-old brand's heritage.

The brand was known for models including the Firebird and the Trans Am.

And its GTO model was the inspiration behind songs by the Beach Boys and Ronny and the Daytonas.

But Mr Henderson said GM had just not been able to make Pontiac work.

"We didn't think we had the resources to get this done from a product perspective," he said.

Falling sales

GM said it also wanted its main union, the United Auto⁶ Workers, to accept shares in the firm in exchange for cancelling 50% of the $20bn the firm must pay into a union-run healthcare trust.

GM also said it would reduce the number of its US dealerships（代理权，经销权） by 42% from 6,246 in 2008 to 3,605 by the end of 2010.

"This reduction in US dealers⁸ will allow for a more competitive dealer⁷ network and higher sales effectiveness in all markets," GM said in a statement.

After all the proposed changes, existing GM shareholders⁹ would own only 1% of the firm.

'New path'

Like US rivals Ford¹⁰ and Chrysler, GM has seen sales fall sharply in its core home market in recent years, a decline that has intensified¹¹（增强） as the recession has continued.

The White House's car industry taskforce said it welcomed GM's latest announcements, but added that the government had yet to make a decision regarding the carmaker's proposal that it exchange half the current loans for a 50% stake in the firm.

"The interim¹² plan（过渡计划） that GM laid out in this filing reflects the work GM has done since 30 March to chart a new path to financial viability（财政活力）," it said in a statement.

"We will continue to work with GM's management as it refines（精炼，净化） and finalises this plan and with all of GM's stakeholders to help GM restructure consistent with（符合，一致） the president's commitment to a strong, vibrant¹³ American auto industry."