Amid steel tariffs, slow sales, GM to cut thousands of jobs
This morning, General Motors announced that it will close three of its assembly plants by 2019, cutting 5,600 jobs in the process, The Detroit Free Press reports:
"GM is continuing to take proactive steps to improve overall business performance, including the reorganization of its global product development staffs, the realignment of its manufacturing capacity and a reduction of salaried workforce," the company said in a news release Monday.
"GM wants to stay in front of changing market conditions and customer preferences for its long-term success,” said GM Chairman and CEO Mary Barra told reporters in a morning briefing.
Amid market changes fueled by tariffs on steel, aluminum, and an unsure future with trade partners, the automaker says it plans to right size it's workforce to fit the global marketplace. More from the Free Press:
“We’re right sizing our capacity both for the demands of the marketplace and what we see occurring in the US and the global marketplace,” said (Mary) Barra. “In the U.S. we see a very strong economy and we see opportunities around the globe. This is to make sure that GM is lean and ready to lead in the world in the cars our customers want and” the future of mobility."
According to a report by The Hill, workers at a GM Plant in Oshawa in Ontario have walked off the job in protest of news of the plant's closing.