"General Motors will cut up to 14,000 workers in North America and put five plants up for possible closure as it abandons many of its car models and restructures to focus more on autonomous and electric vehicles, the automaker announced Monday.
"The reductions could amount to as much as 8 percent of GM's global workforce of 180,000 employees.""The restructuring reflects changing North American auto markets as manufacturers continue to shift away from cars toward SUVs and trucks. In October, almost 65 percent of new vehicles sold in the U.S. were trucks or SUVs. That figure was about 50 percent cars just five years ago.
"GM is shedding cars largely because it doesn't make money on them, Citi analyst Itay Michaeli wrote in a note to investors."And...
"Trump, who has made bringing back auto jobs a big part of his appeal to Ohio and other Great Lakes states that are crucial to his re-election, also said he was being tough on General Motors CEO Mary Barra.
"At a rally near GM's Lordstown, Ohio, plant last summer, Trump told people not to sell their homes because the jobs are 'all coming back.'"