GM to slash up to 14,000 jobs in North America

GM to Close 8 Plants, Lay Off Close to 15,000 Workers

It also plans to cut production at two plants in the US that make transmissions.

GM shares rose as much as 7.8 percent following the announcement, and were almost 6 percent higher at $37.97 in midafternoon trading.

"The United States saved General Motors, and for her to take that company out of OH is not good", Mr. Trump said. According to reports, the Chevrolet Cruze and Impala, Cadillac CT6, Buick LaCrosse and Chevrolet Volt hybrid will all be axed.

"The layoffs are the inevitable outcome of an economic model that views workers as disposable and shareholder excitement as indispensable", said Scott Paul, president of the Alliance for American Manufacturing, a nonprofit that advocates for worker protections in the industry.

The New York Daily News adds that, "i$3 n terms of workforce reduction, GM also plans to cut 15 percent of its 54,000 salaried employees, and even slashing global executive positions by 25 percent". In a statement made about the restructuring, GM specifically names crossovers, SUVs, and trucks as being a higher priority, growth wise, and their closure of a handful of facilities will allow for more focus on those models.

"General Motors decision today to stop production at the Lordstown, Ohio, and Hamtramck, Michigan, assembly plants will idle thousands of workers, and will not go unchallenged by the UAW", Terry Dittes, UAW Vice President in charge of negotiations with GM, said.

Those plants will be in Oshawa, Ontario, Lordstown, Ohio, and Detroit-Hamtramck, Mich., which build six low-margin vehicle models that GM will discontinue. The totals are imprecise in part because there may be some double-counting with employees who are taking the October buyout offer.

Barra said GM is still hiring people with expertise in software and electric and autonomous vehicles, and many of those who will lose their jobs are now working on conventional cars with internal combustion engines. And one reason for the certainty is that it's just easier for the company to close a plant in Canada than it is in the U.S. Under GM's contract with Unifor, the company only has to give the union a year's notice. The Detroit firm will also slash a total of 6,705 jobs at plants located in Warren, Ohio; White Marsh, Md; and two facilities in MI.

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President Donald Trump has long promised to boost the U.S. auto industry and bring manufacturing jobs back home. GM had been expected to close plants because of struggling sales.

In total, GM's North American salaried workforce will shrink by 15 percent (8,000 jobs).

The maneuvers by GM amount to a major restructuring, and it's still too soon to say what kind of long-term impact it will have on the company's stock price.

When you factor in effects on the supply chain, some 49,000 jobs overall in North America could be affected.

Lordstown, which has dropped from three shifts to one in recent years, exclusively produces the Chevrolet Cruze.

About 6,000 factory workers could lose jobs in the USA and Canada, although some could transfer to truck plants.

Rivals Ford and Fiat Chrysler have both curtailed US vehicle production.

"Every time we have a problem with a point, I just put up a picture of a Chevrolet Impala", the USA president was reported to have said.

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