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Economy |
General Motors says cutting 15 percent of workforce to save $6 bln |
2018-11-27 |
[ENGLISH.ALARABIYA.NET] In a massive restructuring, auto giant General Motors announced Monday it would cut 15 percent of its workforce to save $6 billion and adapt to "changing market conditions." The moves include shuttering three North American auto assembly plants next year: the Oshawa plan in Ontario, Canada; Hamtramck in bankrupt, increasingly impoverished, reliably Democrat, Detroit ... ruled by Democrats since 1962. A city whose Golden Age included the Purple Gang... , Michigan and Lordstown in Warren, Ohio. In addition, it will close propulsion plans in Baltimore, Maryland and Warren, Michigan, and two more plants outside of North America. GM has been increasing its focus on highly popular trucks and SUVs and "now intends to prioritize future vehicle investments in its next-generation battery-electric architectures." |
Posted by:Fred |
#9 Watching a business realign its future using forecast outcomes is interesting. Assumptions, though, can be tricky things. |
Posted by: Anomalous Sources 2018-11-27 20:37 |
#8 We should probably forcibly shutter a few hundred dealerships in deep blue enclaves to help them recover. |
Posted by: George Phuque2801 2018-11-27 15:42 |
#7 Well they know another bailout isn't in the offing. |
Posted by: Mullah Richard 2018-11-27 08:28 |
#6 Ford's already said that they're getting out of sedans, and the motor press screamed that they were crazy to try. Evidenty the handwriting on the wall is big enough that more than one person can read it. |
Posted by: ed in texas 2018-11-27 07:16 |
#5 New data from Mexico's auto industry show the country exported 2.33 million vehicles to the U.S in 2017, an increase of 9.4 percent. In addition, 75 percent of the vehicles exported from Mexico wound up being sold in the U.S., far outpacing the next most popular destination, Canada, which received just more than 8 percent of the vehicles shipped out of Mexico. GM's exports from Mexican plants popped 26.3 percent from January through November 2017, according to the Mexican Automotive Association. So much for USMCA |
Posted by: Thumper Hupineque1276 2018-11-27 02:40 |
#4 Breitbart - Watch: Six Years Ago Obama Promised to Buy a Chevy Volt. Now It Is Dead |
Posted by: Besoeker 2018-11-27 02:20 |
#3 I get the feeling that GM is up to something. Shedding union workers? |
Posted by: gorb 2018-11-27 02:14 |
#2 Note to upstart GM marketing team: No, those cars you see virtually everywhere today, they're not extended sedans or station wagons. They're called 'crossovers.' |
Posted by: Besoeker 2018-11-27 01:36 |
#1 Uh hu, Meanwhile foreign auto manufacturers are moving more production to the US . They especially like to set up in non-union controlled states. |
Posted by: Snavimble Bucket1794 2018-11-27 01:09 |