GM cutting 4,000 workers in latest round of restructuring

GM cutting 4,000 workers in latest round of restructuring

USA media reports said the company planned to lay off at least 4,000 salaried workers in North America starting Monday. The job reductions, part of GM's previously announced plan to reduce its headcount by 15 percent, are coming after more than 2,000 employees accepted voluntary buyouts.

The layoffs were first announced in November, along with plans to close four plants - two in MI, one in OH, and one in Ontario.

As federal workers across the country struggle to regain traction after the government shutdown, General Motors workers are bracing for layoffs set to start next week.

Michigan - Warren Transmission: Produces 6-speed transmissions for vehicles across GM's brands, as well as drive units for several electrified vehicles.

At the time, GM said it wanted to cut about 8,000 salaried workers from its payroll.

"We are not confirming timing".

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GM Canada president Travis Hester has said the future of cars is electric, rather than internal combustion.

The automaker also is working with Canadian universities and government officials to assist some 3,000 workers affected by the closure of an Ontario plant, a GM spokesman said.

"This is about making sure that GM is lean and agile", CEO Mary Barra said in announcing the cuts November 26.

Trump is due to tout his economic successes on Tuesday during the annual State of the Union address to Congress.

David Kudla, CEO and chief investment strategist of Mainstay Capital Management, referred to the impending culling as "Black Monday" and told The Detroit News that the layoffs would begin around 7:30 a.m. and continue in waves throughout the coming days and weeks. More than 6,200 jobs are at stake.

GM is scheduled to release its fourth-quarter earnings on Wednesday.

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