GM to slash 14,700 jobs in North America

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And just three years ago, Oshawa took a hit when GM moved production of the Chevrolet Camaro to MI, slicing 1,000 jobs in Ontario. During today's conversation, I pressed GM again to provide new opportunities to the Lordstown workers and take advantage of the skilled workforce there.

"We estimate sedans operate at a significant loss, hence the need for classic restructuring", he wrote. The Cruze compact vehicle will be discontinued in the USA market in 2019.

Rivals Ford Motor Co and Fiat Chrysler Automobiles NV have both curtailed USA auto production.

Trudeau says he is deeply disappointed General Motors is closing its Oshawa assembly plant and will do everything possible to help workers who will lose their jobs.

GM said it will take pre-tax charges of $3bn to $3.8bn to pay for the cutbacks, but expects the actions to improve annual free cash flow by $6bn by the end of 2020.

GM in recent years has worked to slice costs, with a goal of $6.5 billion in cuts this year alone.

Ms. Barra said the automaker doesn't foresee an economic downturn and is making the cuts "to get in front of it while the company is strong and while the economy is strong".

She also noted that tariffs on imported aluminum and steel have hit the company, but she stopped short of saying they had anything to do with the restructuring.

The reductions could ripple through auto parts suppliers such as Aptiv and Magna International, Michaeli said.

GM is axing several of its traditional sedan lines to concentrate on electric and autonomous vehicles like the Chevrolet Bolt.

The moves are meant to shift resources to investing in electric and autonomous vehicles and to prepare for a downturn in the auto market, the automaker said. Canada and Ontario also backed a 2005 investment by GM to modernize the Oshawa plant's paint shop.

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The No. 1 US automaker signaled the latest belt-tightening in late October when it offered buyouts to 50,000 salaried employees in North America.

GM is also moving to cut capital spending overall, even as it says it will double the resources dedicated to electric and self-driving vehicles over the next two years.

The largest US automaker said on Monday it would cut thousands from its North American workforce, slash production and eliminate some slow-selling vehicle models. "They know they're making a great product. but they also realize that the auto is not selling, and, you know, the key is to get another product for this plant".

Sources tell 680 NEWS that GM is set to announce it will be phasing out operations over the course of the next year at the plant, which dates back to 1918.

The biggest US autoworker union vowed to fight GM's plans.

Trump said he'd been told that the Chevrolet Cruz model was failing to sell, "but hopefully she's going to come back and put" a different model in.

Since then, a quarterly sales report continued to show declining sales numbers for the Lordstown built Chevy Cruze.

The plant in Lordstown, Ohio, that makes the Chevrolet Cruze compact vehicle is on the possible closure list.

Plants without products include assembly plants in Detroit; Lordstown, Ohio; and Oshawa, Ontario.

"General Motors' decision to gut its workforce epitomizes the bad corporate behavior Republicans in Congress have incentivized for generations", said spokesman Ryan Thomas.

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