November 26, 2018
General Motors on Monday announced a major restructuring of its global business, saying it will shut production at five facilities in North America and slash its staff. GM will reduce its salaried workforce by 15%, including a quarter of the company’s executives.
The moves are the first big steps in the century-old GM’s transformation. The company is reinvesting money away from cars that once dominated America’s roadways and putting it into technology it believes will power its future.
GM’s (GM) new motto is “Zero Crashes, Zero Emissions, Zero Congestion,” signaling a shift to self-driving, electric vehicles. But the restructuring is also about making cars people want now. Customers are increasingly shunning sedans in favor of SUVs and hatchbacks.
The company said the plan would make it more efficient, saving $6 billion a year by the end of 2020. GM said its slimmed down production plan would allow it to share technology across all of its vehicles and reduce the amount of time and workers it takes to build cars.
Read more at https://edition.cnn.com/2018/11/26/business/gm-oshawa-plant
