GM Shares Jump on Realignment Shifting Resources to EVs

General Motors Co. touched its highest intraday price since July on Monday after announcing a plan to cut more than 10,000 salaried staff and factory workers and close five factories by the end of next year. Shares climbed as much as 7.9 percent to $38.75, with the reductions marking a sweeping realignment under Chief Executive Officer Mary Barra to prepare for a future with a greater number of purely electric vehicles.