• Nick Sorrentino

GM poised to close plants in Michigan, Ohio, Maryland, will cut 15% of salaried workers

GM isn't ALL bad. This Vette is pretty cool looking and for the money perhaps best in class.

Losing a job is not a good thing but one can assume that these workers will be well taken care of. "Salaried" at GM usually means a nice exit if an exit must be made. Heck the union guys often do ok too.

Such cuts shouldn't be surprising in the least. GM has almost always been top heavy. It was bailed out by US taxpayers in 2009 and it remained top heavy. It is old and languid. Frankly it should have died a decade ago, as we've said many times in other spaces. GM should be Cadillac, GMC, and Corvette. Leaner if not really lean.

(From The USA Today)
General Motors is poised to close factories in Michigan, Ohio, Maryland and Canada, and slash 15 percent of its salaried workforce in a sweeping cost-cutting plan designed to boost its profits.
The Detroit-based automaker said it would end production by the end of 2019 at its Lordstown Assembly plant in northeast Ohio; its Detroit-Hamtramck Assembly plant in southeast Michigan; its Oshawa Assembly plant in Ontario; its Baltimore Operations parts plant; and its Warren Transmission Operations plant in southeast Michigan.

Click here for the article.