GM cutting 14,700 jobs in North America. May close up to 5 plants

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Binman4OSU

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Aug 31, 2007
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#1
GM had said they would be making a major announcement today. Details of that announcement are starting to leak out



One of the plants to be closed has been leaked to be in Oshawa Canada along with 2,200 jobs there
 

Binman4OSU

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#2
Reuters reporting that GM will also close plants in Lordstown OH, and Detroit MI.

It is also expected that GM will announce the end of the Volt, Impala and Cruze, Cadillac CT6, Cadillac XTS, and the Buick LaCrosse

The company offered buyouts in Oct to 50,000 salaried employees in North America and will announce a plan to trim executive ranks by 25% in 2019

Several of the GM plants are expected to be reduced to just 1 shift per day
 

John C

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#8
When I was a young pup, in my first semester in college, I was in an Intro to Business class. One of the topics we discussed was whether the federal government should break-up GM (which it was considering doing) into its various car lines--such as Chevy, Buick, Pontiac, etc.--making all of them independent companies, much like the feds did to Standard Oil in the early 1900s. The reason the feds were contemplating this action against GM was they felt that GM was too big and was becoming like a monopoly. What a huge waste of taxpayer money that would have been.

At that time, the two biggest retailers were Sears and K-Mart. The whole thing seems humorous to me today. (Note: the part about current GM employees losing their jobs does not seem humorous.)
 

Binman4OSU

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#11
GM announces 8,100 salaried layoffs and 6,600 factory worker layoffs. 3000 in Canada and 3,600 in US.

5 plants will have their production stopped next year

Some US workers will be offered the option to transfer to their truck and SUV plants in the US as GM announced they are increasing output there

GM said the move will save them $6 billion by the end of 2019...$4.5 billion in recurring annual cost and $1.5 billion in capital spending

GM said the workers who will lose their jobs are those working on conventional cars with internal combustion engines

GM said they are still hiring people with expertise in software, electric vehicles and autonomous vehicles and said they are moving toward investment in autonomous and electric vehicles

GM will quit making the LaCrosse, Cruze and Volt on March 1st and will end the CT6 and Impala production June 1 in the US

Their Plant in Warren MI which makes their 6 speed transmission will stop on Aug 1 and their Baltimore transmission plant will stop production on April 1

The Canada plant that makes the Impala, Cadillac XTS and full size trucks will stop production in 4th qtr 2019
 

Binman4OSU

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#14
Canadian Bail out failure as well
https://twitter.com/robertbenzie/status/1066871987048513536


Some workers at the Canadian Plant already out in front of the plant protesting the decision
 

sc5mu93

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#20
GM has released a new Motto on the tail ends of this announcement.

Their new Motto going forward from this transformation is Zero Crashes, Zero Emissions, Zero Congestion

That signals to me a huge transition toward automatized and electric vehicles
i get it.
but actions speak louder than words, and they just canned their electric car.