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 Detroit, 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.”
General Motors says Mideast car sales accelerateAutomaker reports 22% rise in UAE vehicle sales during April despite storm over safety recalls Aviation & Transport
Ukraine sanctions aside, U.S. carmakers eye Russia marketGeneral Motors is already partly involved in Russia, through investing a joint venture with AvtoVaz Aviation & Transport