GM to lay off about 4000 salaried workers

04 February, 2019, 19:37 | Author: Brooke Harris
  • GM said to be readying 4000 involuntary job cuts next week

General Motors is expected to lay off about 4,000 salaried workers under a reorganization announced late previous year, a person familiar with the matter said Friday. The company hopes the workforce cuts will save it $6 billion a year by the end of 2020.

Other plants slated to close include Michigan's Detroit-Hamtramck Assembly, Lordstown in OH, and transmission plants in the Detroit suburb of Warren, and in Baltimore, Md. It also is a site that Trump promised he would revive during his 2016 White House campaign.

The president said he was "very tough" on Barra in a phone call after the company announced the closures, and referred to the federal auto bailout money the company received in 2008. "You don't know if you should plan ahead for anything or not?"

The exact timing of these layoffs remains unclear, however.

Trump is due to tout his economic successes on Tuesday during the annual State of the Union address to Congress.

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Overall, Trump is presiding over a strong American economy. But trade tensions and global economic anxiety have led some companies to rethink their business plans and sparked concerns about the risk of a slowdown.

Beyond the salaried workers who face job cuts, another 6,000 hourly workers at the five plants could still find their positions in jeopardy because of the restructuring.

The layoffs are part of a larger restructuring plan that was first announced in November, the Detroit Free Press reported. Another 1,500 contracted employees are said to have not been offered an extension or renewal on their contracts.

GM will report financial results on Wednesday and lower earnings are expected.



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