Trump has harsh remarks for GM over layoffs

28 November, 2018, 03:30 | Author: Kevin Carter
  • Trump goes Godfather on General Motors

Not at all. We've let our position be known and we're not happy about it", "This country has done a lot for General Motors.

GM's stock rose almost 5% on the news Monday, then fell 2.5% Tuesday as President Trump threatened to cut federal subsidies to GM because of the layoffs.

While industry-wide passenger auto sales were down 13.2 percent through the first nine months of the year, pick-up truck and SUV sales rose 8.3 percent. Fiat Chrysler Automobiles got out of small and midsize cars two years ago, while Ford announced plans to shed all cars but the Mustang sports vehicle in the United States in the coming years. The news sent General Motors stock shares into a tailspin, despite earning as much as five percent in trading after the closures were announced on Monday.

"GM received record tax breaks as a result of the GOP's tax bill previous year, and has eliminated jobs instead of using that tax windfall to invest in American workers", he said in a statement. This is all in addition to the previously announced closure of the Korean plant.

CEO Barra told reporters that the firm is making the cuts "to get in front of it while the company is strong and while the economy is strong", although the firm said it was not anticipating an economic downturn.

Months later, though, Trump imposed new tariffs on imported steel and aluminum that increased prices for many American manufacturers, including carmakers.

GM (gm) said Monday it's laying off 15% of its workforce and retiring models such as Chevrolet Cruze, the Cadillac CT6, and the Buick LaCrosse.

While GM has been increasing its focus on highly popular trucks and SUVs, the company said in a statement it would also prioritise investment in "next-generation battery-electric architectures".

Republican lame-duck session priorities should be the wall tax cuts and defunding Planned Parenthood
GM slashing 15% of its salaried workers in North America

"It's like we're in a limbo now", said Marsh, a single mother who said she has a teaching degree to fall back on if the plant is closed.

In the fall, the Detroit automaker offered buyouts to 18,000 white collar workers, but it has yet to say how many accepted, or if its's close to meeting the staff reduction goals it set to better withstand leaner times.

"The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future", Barra said. The charges will take place in the fourth quarter of 2018 and the first quarter of next year.

Four factories in the USA and one in Canada could be shuttered by the end of 2019 if the automaker and its unions don't come up with an agreement to allocate more work to those facilities, GM said in a statement Monday. They could close or they could get different vehicles to build. Some of the affected factories could resume production, depending on the outcome of the company's contract negotiations with the United Auto Workers union next year. I believe they'll be opening up something else.

Unions were also angered by the move and the UAW said "General Motors decision ... to stop production at the Lordstown, Ohio, and Hamtramck, Michigan, assembly plants will idle thousands of workers, and will not go unchallenged". Also on the line are transmission factories in Warren, Michigan, as well as Baltimore.

"Most of the one-shift plants are sedan plants", Dziczek said.

Trump was particularly frustrated with the prospects of a possible closure of a GM plant in OH, according to a transcript of the interview.

More news: USA asks foreign allies to avoid Huawei



Nooses, 'hate' signs left outside Mississippi Capitol in buildup to special election
MS voters are deciding a racially charged Senate election that has dredged up the Deep South state's ugly past. Espy, who is a lawyer, said: "I found out later that this guy, the president, was a really bad guy".

Mexican officials question use of force at the border
He tweeted: "Mexico should move the flag waving Migrants, many of whom are stone cold criminals, back to their countries". The sudden rush overwhelmed Mexican police, who were deployed with large clear shields and full riot gear.

Trump tells Mexico to ship migrants home or see border permanently closed
President Trump has repeatedly threatened to close border crossings to prevent the migrant caravan from entering the U.S. Some attempted to enter through San Ysidro, Secretary of Homeland Security Kirstjen Nielsen said in a statement.

Ole Miss lets go defensive coordinator after season finale
Since the play came after the third quarter clock expired though, the Brown touchdown was taken off the board. Coach Matt Luke thanked McGriff in a Friday morning statement for "his hard work and dedication to Ole Miss".

Son's solo stunner sees Spurs shatter Chelsea's unbeaten season
There can be little doubt over David Luiz's considerable capabilities but there are few more maddening footballers in this era. Eriksen's genial craft and Son's relentless running were a disorientating combination that Chelsea never effectively combated.

Donald Trump attempts political satire in Thanksgiving turkey pardon
The White House released a statement regarding Peas' and Carrots' upbringing. Truman didn't pardon the "National Turkey"; he ate it. That was a great - that was a great victory.

U.S. stocks take sharp losses as tech, internet companies drop
Retailers also fell, and energy companies plunged with oil prices as the market sank back into the red for the year. Sydney's S&P-ASX 200 was 0.4 percent lower at 5,671.80 and India's Sensex declined 0.6 percent to 35,559.08.

B-town celebs react to Deepika, Ranveer’s reception attires
While the groom wore an intricate Rohit Bal sherwani , the bride opted for an Angadi Silks saree with jewellery from Sabyasachi. Also, the Bangalore reception is likely to be attended by veteran badminton player Prakash Padukone's friends and relatives.

Some Amazon Black Friday 2018 Game Deals Are Available Now
Even better is a DualShock 4 bundle that comes with a copy of Federation Internationale de Football Association 19 for £59.99. This year, you can get up to 40% off over a hundred digital titles - from recent AAA blockbusters to popular indie hits.

Get ready for the holiday: What's open on Thanksgiving, Black Friday?
Still, retailers often save the very best promotions for Black Friday (often starting on Thanksgiving ) and Cyber Monday . The Sony Cybershot HX60B Superzoom compact camera was advertised as £189 (save £10) on Black Friday by Currys PC World.