GM Slashing Thousands of Factory Jobs
GM is slashing 14,700 factory and white-collar jobs in North America; may close five factories.
DETROIT (AP) - General Motors is closing a Canadian plant at the cost of about 2,500 jobs, but that is apparently just a piece of a much broader, company-wide restructuring that will be announced as early as Monday.
GM plans to slash 14,700 factory and white-collar jobs in North America and may close five factories.
A person briefed on the matter told The Associated Press that the plant being shuttered in Canada is just the beginning as GM prepares for the next economic downturn, shifting trade agreements under the Trump administration, and potential tariffs on imported automobiles.
The official spoke on condition of anonymity because the announcement hasn't been made public.
In the fall, the Detroit automaker offered buyouts to 18,000 white collar workers, but it has yet to say how many accepted, or if it's close to meeting the staff reduction goals it set to better withstand leaner times.