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GM Plans More Than 14,000 Job Cuts, Seven Factory Closings

  • Barra moves to cope with drastic change while economy strong
  • Automaker to jettison slow-selling sedans, emphasize electrics
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Bloomberg’s Craig Trudell and David Westin report on GM’s plans to cut jobs and close plants in North America.Source: Bloomberg)
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General Motors Co. will cut more than 14,000 salaried staff and factory workers and close seven factories worldwide by the end of next year, part of a sweeping realignment to prepare for a future of electric and self-driving vehicles.

Four factories in the U.S. 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. Another two will close outside North America. The Detroit-based company’s shares surged on the plan, which includes abandoning some of its slower-selling sedan models.