Smells like winning.
General Motors will lay off 14,700 factory and white-collar workers in North America and put five plants up for possible closure as it restructures to cut costs and focus more on autonomous and electric vehicles.
The reduction includes 8,100 white-collar workers, some of whom will take buyouts and others who will be laid off. Most of the affected factories build cars that won’t be sold in the U.S. after next year. They could close or they could get different vehicles to build. They will be part of contract talks with the United Auto Workers union next year.
Plants without products include assembly plants in Detroit; Lordstown, Ohio; and Oshawa, Ontario. Also affected are transmission factories in Warren, Michigan, as well as Baltimore.
About 6,000 factory workers could lose jobs in the U.S. and Canada, although some could transfer to truck plants.
Looks like that trade war is working like everyone thought it would.
Naturally, after this news is through stimulating two of Trump’s three remaining synapses, he’ll find someone else to blame. But if he’s going to take credit for good economic news he has nothing to do with, this needs to be pinned on him. Especially since it very well may (at least in part) be his fault.
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