GM to Slash Jobs and Production, Cancel Some Car Models
November 26th, 2018Via: Reuters:
General Motors Co will cut car production, stop building several low-selling car models, and slash its North American workforce, sources said on Monday, marking its biggest restructuring in North America since its bankruptcy a decade ago.
GM plans to halt production at three assembly plants in Canada, in Ohio and Michigan in the United States by not allocating new products, putting the future of those plants in doubt, the sources added.
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GM has begun what is expected to be a long and expensive transition to a new model that embraces electrified and automated vehicles, many of which will be shared rather than owned.
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