GM Cuts Thousands of Jobs
November 26th
General Motors, one of the largest car manufacturers in the world, has announced that they are going to cut over 15% of their employees, around 14,000 people total, while also shutting down five North American plants. GM has been having an average year around the world. However, sales in their two biggest marketplaces, China and North America, have began to slip. Multiple factors have contributed to GM’s situation, namely the recent tariffs placed upon steel. The company said that these tariffs cost them over one billion dollars. Trump is upset with General Motors’ decision and told reporters, “This country has done a lot for General Motors. They better get back to Ohio, and soon.” Moving forward, due to the laying off of employees, General Motors looks to save six million dollars by 2020.
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