General Motors to close Lordstown plant

General Motors to close Lordstown plant

Workers ― and others in the city ― held their breath just a few years ago when it appeared the plant might close.

General Motors was down 9% this year. The Canadian plant appeared to be most in danger of closing.

Barra is reducing staff from operations that make conventional cars and hiring people who can design electric cars or add software prowess to GM Cruise LLC, the automaker's autonomous vehicle unit in San Francisco.

Trump told reporters he told Barra he was unhappy with the announcement. "We think it's appropriate to do it at a time, and get in front of it, while the company is strong and while the economy is strong".

GM is reportedly slashing 14,700 factory and white collar jobs in North America, and may close five factories.

These decisions are expected to lead to savings of approximately $6 billion by the end of 2020: $4.5 billion in cost reductions and $1.5 billion in lower capital expenditure.

GM's shares in NY jumped as high as 7.8 per cent to US$38.75.

GM shares were trading around $37.78 as of 3:35 ET on Monday.

Unifor instructed its members to leave the plant Monday morning rather than wait to hear GM's planned internal announcement. The plant closure is part of global restructuring, the report added.

At the factories, around 3,300 blue-collar workers could lose jobs in Canada and another 2,600 in the US, but some USA workers could transfer to truck or SUV factories that are increasing production. "It's hard, it's disgusting". "It's a kick in the nuts". In the 1980s, the plant employed roughly 23,000 people.

GM will close 5 North America plants, another three elsewhere.

"Oshawa Assembly is GM's most decorated plant with a highly skilled, committed workforce".

While industry-wide passenger vehicle sales were down 13.2 percent through the first nine months of the year, pick-up truck and SUV sales rose 8.3 percent. "If GM leaves, I don't know what's going to happen", echoed Karin Wright, raising the prospect of having to sell her home and relocate.

The company began a $1.4 billion expansion of the Arlington plant in 2015. "We're very, very disappointed with the news". The agreement also stipulates that 75 per cent of the automobile's contents must be made in North America in order to be tariff-free. The company offered buyouts to 18,000 white-collar workers in October, but hasn't said how many accepted. "Even worse, the company reaped a massive tax break from last year's GOP tax bill and failed to invest that money in American jobs, choosing to build its Blazer in Mexico", Brown wrote.

Those cuts are in addition to $6.5 billion that the company has announced by the end of this year.

The moves follow rising costs and slowing auto sales and come as the United States carmaker focuses on its line-up of trucks, electric and self-driving vehicles.

"I believed what he said, and at that moment it turned me into a Trump supporter", Wolikow said.

As recently as 2012, passenger cars made up more than 50 percent of all US new vehicle sales. "We will achieve this through a combination of voluntary and involuntary programs", she said.

The timing of the decision was surprising, but not the decision itself, said Dennis DesRosiers, president of DesRosiers Automotive Consultants.

Ford said along with shock and sadness, come feelings of anger and betrayal.

General Motors workers leave the Oshawa General Motors plant in Oshawa, Ontario, Nov. 26, 2018.

As for General Motors, Ford said he found out about the plant closure on Sunday afternoon.

GM said it has no plans to make automobiles at three factories in Oshawa, Ont., Detroit and Warren, Ohio, as well as parts plants in Maryland and MI.

He says instead, the province will immediately bolster unemployment insurance and retraining measures to help the almost 3,000 workers who will lose their jobs.

"It is disappointing that GM failed to see and build upon this competitive advantage", said Ford in a statement on Monday. This is a business decision.

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