The largest USA automaker said on Monday it would cut thousands from its North American workforce, slash production and eliminate some slow-selling vehicle models.
GM said it will reduce its salaried workforce by 15%, including a quarter of the company's executives.
The restructuring reflects the changing US and North American auto markets as manufacturers continue a dramatic shift away from cars toward SUVs and trucks. GM expects to spend $1 billion on Cruise this year to build the next generation of cars.
Up until Monday, GM was steadfast is saying it saw opportunity in surrendered passenger vehicle segments, which crosstown rivals Ford Motor Co. and Fiat Chrysler Automobiles previously announced plans to primarily exit. "Instead of using its massive tax savings to increase employee wages or invest in its workforce, GM is shuttering plants and cutting jobs to increase profits and further enrich shareholders".
It's unknown whether the other plants will close, but today's announcement certainly sets the stage for their possible demise. "For decades, workers in the Mahoning Valley have made a commitment to GM, and today GM let Northeast Ohio down". That means GM needs to allocate more resources to purely electric cars, unlike the hybrid Volt, and to autonomous technology, Barra said. Barra told reporters the company is making the cuts "to get in front of it while the company is strong and while the economy is strong". The plan also will end work at plants that make transmissions and other components in Maryland and MI.
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During those arguments, the man threatened her several times and at one point said he was "coming strapped" for her, Ballard said. The Ocala Star-Banner reports that the woman and the shooter had been dating for nine months, but had recently broken up.
The cost-cutting happened on Monday, when GM announced that it would eliminate about 14,000 jobs in North America and could close five manufacturing plants. 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.
GM said it is cutting production of several auto models, including the compact Chevrolet Cruze, as part of a massive restructuring that will eliminate about 5 percent of its North American workforce.
Langley said the announced elimination of the passenger cars wasn't surprising, but the immediacy of canceling the cars "so quickly is a new phenomenon". In the meantime, external forces-particularly, China, GM's largest market-have dented GM's bottom line, wiping out much of the company's savings from the GOP tax reform.
"We're going to fill up those factories or rip them down and build new ones", Mr. Trump told a cheering audience.
"If GM Canada is indeed turning its back on 100 years of industry and community - abandoning workers and families in Oshawa - then this is a callous decision that must be fought", she said in a statement. Some will take buyouts while others will be laid off.
Inches of snow expected around southeast Michigan Monday
Though the arrival of the storm now is expected later than originally forecast, the intensity and duration remain on target. The bulk of the snow is expected to fall Sunday evening, which could also potentially affect the Monday morning commute.
But its outlook is bleak after GM announced production of the Chevy Cruze would stop in March, halting work at the assembly plant that already had lost two shifts and 3,000 union jobs since the beginning of previous year.
"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.
"We tried to get his attention on this issue two years ago", Mr. Ryan said.
Meanwhile, President Donald Trump said he will put pressure on GM to get "back" into Ohio.
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First Lady Melania Trump unveiled the White House Christmas decorations on Monday, including this year's show-stopping tree. Thank you to the many volunteers and staff who worked hard to decorate the halls of the People's House in Christmas cheer.