GM Will Start Laying Off More Than 4,000 Workers on Monday

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GM Will Start Laying Off More Than 4,000 Workers on Monday

GM also plans to close one Canadian and four US vehicle factories, shedding another 5,000 jobs.

The company announced in November it was shrinking it is ending production at five North American plants and eliminating about 15% of the company's salaried workers.

The cutbacks that GM says are created to help the company free up $6 billion for development of electric and self-driving vehicles and other industry innovations have been criticized by President Trump, whose base has been working-class middle America. In his rebuke of GM, Trump focused on the closures in OH, a state he won in the 2016 election.

He said the company would face punishment for the closures, which included a plant in Lordstown, Ohio, that Trump personally promised to revive during the 2016 campaign.

"You know, the United States saved General Motors, and for her to take that company out of OH is not good", Trump said in November.

Overall, Trump is presiding over a strong American economy.

There are also concerns of a slowdown in the market in the next couple of years.

The GM plants, which include about 6,000 hourly jobs, have yet to close, GM is moving ahead with the salaried staff reductions, a GM spokesman confirmed Friday. That's in line with what company sources told Automotive News, which first reported the timing, last week.

The automaker says it has largely completed salaried job cuts in Canada, and most of those threatened with layoff here have accepted an incentive package to leave.

Two people briefed on the cuts said GM is cutting hundreds of jobs at its information-technology centres in Texas, Georgia, Arizona and MI and more than 1,000 jobs at its Warren, Mich. tech centre. Another 1,500 contracted employees are said to have not been offered an extension or renewal on their contracts.

GM will report financial results on Wednesday and lower earnings are expected.

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