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GM To Idle Five Factories In North America, Cut More Than 14,000 Jobs As It Focuses On Autonomous, Electric Vehicles (chicagotribune.com)
An anonymous reader quotes a report from Chicago Tribune: General Motors will cut up to 14,000 workers in North America and put five plants up for possible closure as it abandons many of its car models and restructures to cut costs and focus more on autonomous and electric vehicles. The reduction includes about 8,000 white-collar employees, or 15 percent of GM's North American white-collar workforce. Some will take buyouts while others will be laid off. Four factories in the U.S. and one in Canada could be shuttered by the end of 2019 if the automaker and its unions don't come up with an agreement to allocate more work to those facilities, GM said in a statement Monday. Another two will close outside North America. The company has marked a sedan plant in Detroit, a compact car plant in Ohio, and another assembly plant outside Toronto for possible closure. Also at risk are two transmission plants, one outside Detroit and another in Baltimore. GM CEO Mary Barra said the company 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," reports Dallas News. "Barra said the industry is changing rapidly and moving toward electric propulsion, autonomous vehicles and ride-sharing, and GM must adjust with it."
The restructuring comes as the U.S. and North American auto markets are shifting away from cars toward SUVs and trucks. "In October, almost 65 percent of new vehicles sold in the U.S. were trucks or SUVs," reports Chicago Tribune. "It was about 50 percent cars just five years ago."
The restructuring comes as the U.S. and North American auto markets are shifting away from cars toward SUVs and trucks. "In October, almost 65 percent of new vehicles sold in the U.S. were trucks or SUVs," reports Chicago Tribune. "It was about 50 percent cars just five years ago."
As opposed to someone who didn't...how would you be torn about an obvious calculated risk, despite the outcome?
There was no calculation, they just threw a coin at the empty promises of the wishing well. Sadly, they don't realize how much they really lost by voting for Trump.
Riiight because the better choice was someone smashing their phones with a hammer and wiping their server with DoD software like a pedo with the FBI outside their door with a warrant?
Correct. It's pathetic, but it's true. Clinton was the status quo candidate, and things are now worse than the status quo.
"You're right," Fisheye says. "I should have set it on 'whip' or 'chop.'"
Tesla fanboys think that Tesla is selling a lot of cars. Rather comical, but I guess being delusional goes along with being a Musk fanboy.
Nope sorry, the lesser of 2 evils? Still fucking EVIL and Shillary was as crooked as they come.
Again put the blame where the blame is due, the DNC had the election in the bag. Bernie was liked, Bernie didn't have more skeletons in the closet than John Gotti, one on one Bernie would have been able to wipe the floor with Trump as all the mud slinging wouldn't have stuck. Shillary was 1.- Smashing phones and wiping servers which everybody knew, 2.- Making deals with foreign governments and running the SoS as a pay to play which thanks to Wikileaks we also all knew, 3.- Was having so many health issues she literally couldn't walk down a small flight of stairs without doing a Gerald Ford impersonation, and 4.- If it wasn't for her political connections would have already been in prison for breaking the espionage act which Comey laid out pretty clearly before he passed on doing shit. To quote a former CIA agent with 35 years exp "If a first year intern had done even half what HRC did? They'd have gotten 10 years".
You can't blame the public when you toss any good candidates you have and just sell the spot to the most crooked weasel since Spiro Agnew and then get pissed when they refuse to hold their nose and take the shit you are shoveling,when it came out that she bought the DNC and has rigged the primary? That should have been it, there should have been demands for her ouster. The fact that the MSM jumped through flaming hoops to cover for her ass (gotta love the CNN "its illegal to read wikileaks so just believe what we tell you" horseshit, that was Pravda level propaganda) simply gave Trump the rope to hang the whole lot as he could point and say "See? They are lying to your faces, Fake News!" and any credibility the MSM had was blown away like a fart on the wind.
The only question now is whether the MSM will smarten up and not let the DNC get away with their shit in 2020 or whether they will be good toadies and push whatever shitshow the DNC presents. If they run someone decent? It should be a walk in the park, if they run an SJW virtue signal parade like Coretz? Hope you like Trump 2020 followed by Pence in 2024, as nobody is gonna hold their nose and buy the bullshit.
ACs don't waste your time replying, your posts are never seen by me.
I'm torn between feeling sorry for and laughing at the folks that voted for Trump because of his promises to keep factories open.
You think TRUMP is to blame for trouble at "Government Motors"? ROTFL!
In case you don't recall: GM is the company where Obama meddled with its Chapter 11 bankruptcy in order to pay off the unions, his donors at Morgan Stanley, JPMorgan Chase & Co., Bank of America Corp. and Citigroup Inc., and other cronies for their support by reanimating the corpse under the management of said cronies. (Think "a bigger Solyndra that makes cars instead of solar panels and is marginally profitable rather than belly-up.")
To do this he looted the taxpayers of about 8 billion net, and abrogated the financial laws to loot the late bondholders (largely retirement funds) of their preferred interest in the assets (which dropped their bond principal value by far more than the hit they'd contracted to risk).
Also (as usual) those connected with the investment banks got in on the re-opening IPO while shares for the general public were hard to find. The corporate bond market may NEVER recover from the loss in confidence that resulted from the U.S. government breaking its own laws to rescind the legal guarantees that (used to) protect investors trying to rescue a troubled company in hard times.
(It's nothing compared to what he did to Chrysler. He PAID Fiat to TAKE them! Then the Fiat executives had so little clue about the company's market that they then broke the recession-proofness of the Jeep line (by eliminating the features of the vehicle that made it recession-proof) and closed so many dealerships that western-state owners who needed service might have to take their vehicles more than 500 miles to get it.)
But with Obama's crew and/or their legacy in charge, don't blame Trump for any layoffs GM might make.
Bantam Dominique roosters crow a four-note song. Once you've heard it as "Happy BIRTHday" you can't NOT hear it that way