Trump says GM 'better' add new facility in Ohio after cuts

GM to Close 8 Plants, Lay Off Close to 15,000 Workers

"GM received record tax breaks as a result of the GOP's tax bill past year, and has eliminated jobs instead of using that tax windfall to invest in American workers", he said in a statement. Shares in the company rallied 7.6 percent to $38.66. The plant is used to make the Cadillac XTS and Chevrolet Impala sedans as well as the Chevrolet Silverado and GMC Sierra trucks.

The salaried workforce restructuring includes cutting 15 percent of its 54,000 salaried employees in North America, including slashing global executives by 25 percent.

The United Auto Workers (UAW) union said they would confront GM on its decision on behalf of those who would lose their jobs.

Members of Unifor, the union representing the workers of Oshawa's General Motors assembly plant, stand near the entrance to the plant in Oshawa, Ontario, Monday, Nov. 26, 2018.

At a rally near the plant last summer, Trump talked about passing by big factories whose jobs "have left OH", then told people not to sell their homes because the jobs are "coming back".

GM will stop production at the following three plants: Lordstown, Ohio; Hamtramck, Michigan; and Oshawa, Ontario. The company offered buyouts to 18,000 white-collar workers in October, but hasn't said how many accepted.

Barra said GM can reduce annual capital spending by $1.5bn and increase investment in electric and autonomous vehicles and connected vehicle technology because it has largely completed investing in new generations of trucks and sport utility vehicles. The Cruze compact auto will be discontinued in the US market in 2019, although GM may continue building it in Mexico for other markets, Barra said. It also plans to close propulsion plants in White Marsh, Maryland, and Warren, Michigan, in 2019, the company said in a news release.

In July 2017, Trump made a speech in Youngstown, Ohio near the GM plant and vowed jobs were "all coming back".

GM's North American salaried workforce, including engineers and executives, will shrink by 15 percent, or about 8,000 jobs. Lordstown Assembly builds the Chevrolet Cruze.

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

GM sold almost 2.7 million vehicles in China through September, almost all of them built in China for the market. In 2016, he surprised Hillary Clinton by flipping regions such as Trumbull County, Ohio, near GM's Lordstown plant that now is closing.

Early reports indicated that GM's layoffs are the result of steel tariffs levied by the Trump administration in its fledgling trade wars with China, Canada, and the European Union, but GM says that no one factor led to the layoffs. Another two will close outside North America.

Ohio's incoming governor, Republican Mike DeWine, said he plans on meeting with GM officials and make a case for the plant after he takes office in January.

In recent years, the company has been whittling down the number of employees at the plant to just over 2,500 today- a far cry from its heyday when it employed approximately 23,000 people in the 1980s.

SLUMPING U.S. SEDAN SALES An industrywide slowdown in passenger auto sales started to pick up steam in 2017.

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