GM is shutting plants and slashing staff

GM is reinventing itself. Its cutting 15% of its salaried workers and shutting 5 plants in North America

General Motors on Monday announced a major restructuring of its global business, saying it will shut production at five facilities in North America and slash its staff. GM will reduce its salaried workforce by 15%, including a quarter of the company's executives. The moves are the first big steps in the century-old GM's transformation. The company is reinvesting money away from cars that once dominated America's roadways and putting it into technology it believes will power its future. GM's (GM) new motto is "Zero Crashes, Zero Emissions, Zero Congestion," signaling a shift to self-driving, electric vehicles. But the restructuring is also about making cars people want now. Customers are increasingly shunning sedans in favor of SUVs and hatchbacks.

LINK

It happened to me a lot of times in 12 years at GM. Layoffs. Actually in an auto plant layoffs are regular because of something called change over: remaking the plant for the building of a new car. A change over can be as short as a week or as long as a year. But at GM the benefits were so good when I was laid off for a whole year we got 90 percent of our salary. AND GM EVEN SENT US TO SCHOOL FOR FREE.

In this case, though, its the kind of layoff that is permanent and is a sign things may be going badly in the economy.

I got tired of it, went back to college and got a degree and got out of there through a buy out before I was laid off permanently.

Just hope this isn’t a sign the economy is going down. Believe me; a huge auto plant going down is devastating to the town and neighborhood their operating in. The stores, restaurants, bars, businesses of all stripes go down when the auto plant leaves.

This may be a macroeconomic rebuke to Trump's tariffs and tax cuts for corporations as plants in Ohio and Michigan are a part of the layoffs.

Finally, I hope and pray for the best of my GM and United Auto Worker( ONE OF THE BEST UNIONS AROUND) brothers and sisters who are affected by this layoff.

a reply to: Willtell

I just read that.
Sucks big time man.

Lotta people gonna be in a bad spot.

a reply to: Willtell

They're probably going to focus more on automation. It was bound to happen.

May or may not be, either or I'm just happy you didn't make this out to be Trump, if anything he got them to think.

--- On topic ---

This honestly just sounds like restructuring and adapting to a new era, something all companies seemingly have to come to terms with.

Hell, even executives getting a pay cut.

Good for GM, would like to see what they bring to the market.

a reply to: Willtell

Not a big surprise.
High labor costs will strain the bottom line.

That and companies like Toyota are make some damn good cars.

I notice that one of the factories makes the volt that nobody wants.
The others made old folks buicks and overpriced cadillacs...

Just FYI GM just put nearly a $billion in a new paint shop and revised facilities at the Bowling Green assembly plant. That's where they make Corvettes. The entire build process was redone. The standing rumor is that the 8th generation Corvette, a mid-engine model, will be debuting sometime in 2019. Fact is some of GM's plants are old and inefficient and the structure of their management staff is the epitome of a slow-moving bureaucracy. Mary Barra, the current CEO (who drives a Z06 Corvette herself), may be the best thing that has happened to GM.

So much winning! Maga! I may be a little fuzzy, but didn’t it at least take almost 6 years for bush to wreck the economy? a reply to: Willtell

a reply to: strongfp

They're probably going to focus more on automation.

This is what is really taking american jobs. It's to bad you don't see fox and cnn talk about it more.

At least we aren't seeing TARP revisited.

The eyesore GM left in Indianapolis is finally going to be redeveloped.

INDIANAPOLIS, Ind. – A transformation is in the works at the former GM stamping plant, with more than $1 billion in development planned for a new downtown district. Ambrose Property Group unveiled the plans for what will be called Waterside Friday. The company expects $1.38 billion in development, including 1,350 residential units, 620 hotel rooms, 2.75 million sq. ft. of office space and 100,000 sq. ft. of retail and 12,000 jobs.

originally posted by: soundguy
So much winning! Maga! I may be a little fuzzy, but didn’t it at least take almost 6 years for bush to wreck the economy? a reply to: Willtell

LOL, in your mind, I bet that sounded smart.

originally posted by: soundguy
So much winning! Maga! I may be a little fuzzy, but didn’t it at least take almost 6 years for bush to wreck the economy? a reply to: Willtell

Total TDS, you don't know what you're talking about, be a boob on some other thread you clown.

originally posted by: soundguy
So much winning! Maga! I may be a little fuzzy, but didn’t it at least take almost 6 years for bush to wreck the economy? a reply to: Willtell

As usual you dont even bother reading the article before blaming trump.
It says the sales of sedans is declining and they are changing direction before it becomes a big problem.

"GM's (GM) new motto is "Zero Crashes, Zero Emissions, Zero Congestion," signaling a shift to self-driving, electric vehicles. But the restructuring is also about making cars people want now. Customers are increasingly shunning sedans in favor of SUVs and hatchbacks"

Its trumps fault soccer moms want an SUV instead of an impala.....

Are not Canadian plants included in this restructuring?

originally posted by: Willtell
GM is reinventing itself. Its cutting 15% of its salaried workers and shutting 5 plants in North America

General Motors on Monday announced a major restructuring of its global business, saying it will shut production at five facilities in North America and slash its staff. GM will reduce its salaried workforce by 15%, including a quarter of the company's executives. The moves are the first big steps in the century-old GM's transformation. The company is reinvesting money away from cars that once dominated America's roadways and putting it into technology it believes will power its future. GM's (GM) new motto is "Zero Crashes, Zero Emissions, Zero Congestion," signaling a shift to self-driving, electric vehicles. But the restructuring is also about making cars people want now. Customers are increasingly shunning sedans in favor of SUVs and hatchbacks.

LINK

It happened to me a lot of times in 12 years at GM. Layoffs. Actually in an auto plant layoffs are regular because of something called change over: remaking the plant for the building of a new car. A change over can be as short as a week or as long as a year. But at GM the benefits were so good when I was laid off for a whole year we got 90 percent of our salary. AND GM EVEN SENT US TO SCHOOL FOR FREE.

In this case, though, its the kind of layoff that is permanent and is a sign things may be going badly in the economy.

I got tired of it, went back to college and got a degree and got out of there through a buy out before I was laid off permanently.

Just hope this isn’t a sign the economy is going down. Believe me; a huge auto plant going down is devastating to the town and neighborhood their operating in. The stores, restaurants, bars, businesses of all stripes go down when the auto plant leaves.

This may be a macroeconomic rebuke to Trump's tariffs and tax cuts for corporations as plants in Ohio and Michigan are a part of the layoffs.

Finally, I hope and pray for the best of my GM and United Auto Worker( ONE OF THE BEST UNIONS AROUND) brothers and sisters who are affected by this layoff.

Will, there are no more blacksmith shops or buggy whip factories but we have not only survived but thrived. Times change and people change. If one isn’t willing to stay relevant then they fall to the side. Your comments and the linked article both indicate the GM does the right thing for their stockholders. That is all that can be asked of a public company.

a reply to: IAMTAT

Oshawa ontario

does anyone buy GM cars anymore???

they can't compete that's their main problem

a reply to: Willtell

The CBC has been talking about this for awhile today, mainly addressing the Oshawa, Ontario, plant.
Pretty crappy news for the employees and i feel for them.
But at the very least, they are getting a years notice.
Interested in seeing how many stick it out there.

Just watched this on CNN. They tried to blame TMan, but then they said it's about changing demographics. Sales in the US are down while compact car sales are going up in the EU. The thing with public companies is that they are enslaved to the share holders....no time to look at the little guy in Ohio.

Double post. Ignore.