General Motors says cutting 15 percent of workforce to save $6 bln

The General Motors assembly plant in Oshawa, Ontario, Canada. (Reuters)

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.”

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Last Update: Wednesday, 20 May 2020 KSA 09:52 - GMT 06:52
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