Day: November 26, 2018

General Motors Announces Acceleration of Global Restructuring- Includes Multiple Plant Closures and Worker Layoffs

North America based automotive designer and manufacturer General Motors today announced a major acceleration of restructuring of its global business, indicating that it will shut production at five North America based facilities and slash its salaried workforce by 15 percent, including a quarter of the company’s executives. Today’s announcement points to a broader overall plan of global transformation that will focus more on providing forms of autonomous and shared-ride transportation vs. a predominance of personal vehicle sales. CEO Mary Barra told reporters, in-part: “This industry is changing very rapidly when you look at all of the transformative technology —...

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