Trump Slams GM, Threatens Company

Trump Slams GM, Threatens Company

President Donald Trump said Tuesday that he was "very disappointed" that General Motors was closing plants in the United States and warned that the White House was "now looking at cutting all GM subsidies", including for its electric cars program. But we will all together get the point across to General Motors.

General Motors announced Monday that Lordstown, along with several other plants of operation, will remain "unallocated" meaning they won't receive any new product.

"General Motors made a big China bet years ago when they built plants there (and in Mexico) - don't think that bet is going to pay off", he added.

The restructuring reflects changing North American auto markets as manufacturers continue to shift away from cars towards SUVs and trucks.

If all the factory workers are laid off, the reductions announced Monday would be about would be about 8 percent of GM's global workforce of 180,000 employees. He said he told the company that the United States has done a lot for GM and that if its cars aren't selling, the company needs to produce ones that will.

In addition to these plants, GM said that at the end of 2019 it will cease production at two other plants located outside North America, providing no further details but saying that it will do so in the very near future.

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As recently as 2012, passenger cars made up more than 50 percent of all USA new vehicle sales. Also affected are transmission factories in Warren, Michigan, as well as Baltimore.

Mary Barra, CEO of General Motors, says the job cuts are in order to invest in future technologies. Barra said the industry is changing rapidly and moving toward electric propulsion, autonomous vehicles and ride-sharing, and GM must adjust.

The affected plants include three auto factories-one in Lordstown, Ohio, one in Detroit, Mich. and the other in Oshawa, Ontario-and two transmission factories in Baltimore and Warren, Mich. GM will also cease production of several vehicle models, including the Chevrolet Cruze and the Buick LaCrosse. "We appreciate the actions this administration has taken on behalf of industry to improve the overall competitiveness of USA manufacturing", the statement said. In the meantime, external forces-particularly, China, GM's largest market-have dented GM's bottom line, wiping out much of the company's savings from the GOP tax reform. "We are now looking at cutting all @GM subsidies, including".

More than 16 months ago, the UAW confirmed that it was discussing with GM the potential threat to plants and jobs from slumping US sedan sales.

The company also said it would cull executive ranks by 25 percent in the cuts. He said the city's economic development team wanted to partner with the UAW to "come up with a solution that works for GM and the employees". I say, "Well, then get somebody - get a auto that is selling well and put it back in".

Meanwhile, GM's plant in Oshawa, Ontario, will stop making the Impala, Cadillac XTS and 2018 full-size pickups in the fourth quarter of next year.

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