Published: Tue, February 05, 2019
Money | By Ralph Mccoy

GM moving ahead with salaried job cuts, says modest number in Canada

GM moving ahead with salaried job cuts, says modest number in Canada

Two separate sources told NBC News that the number of workers who have negotiated separation agreements has escalated in recent weeks, though GM still needs to hand out pink slips to about 4,000 employees next week to meet its target.

GM announced that 4,000 employees will be fired.

General Motors says it has largely completed salaried job cuts in Canada as part of a wider restructuring, though it confirmed Monday it was continuing to make more cuts overseas.

Morrissey said GM would provide salaried workers with severance packages and job placement services. Continuation of health care benefits were also part of the packages.

GM is moving to more high-tech vehicles, Kudla says. The automaker said many Fortune 500 companies and other employers have expressed interest in hiring GM's laid-off employees.

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The GM plant in Lordstown, Ohio, is one of the four USA sites affected, CNN reported. In November, GM announced it would halt production at plants in Detroit, Ohio, Michigan, Maryland, and Ontario, while cutting as many as 14,000 jobs as part of its most ambitious restructuring plan in a decade. "We will communicate with them first".

The restructuring also includes the planned shutdown of the company's Oshawa Assembly Plant at a loss of about 2,600 unionized jobs and four other plants in the U.S.

The automaker expects the moves to help save up to $2.5 billion in costs this year and a total of $6 billion by 2020.

'We are taking action now while the overall economy and job market are strong, increasing the ability of impacted employees to continue to advance in their careers, should they choose to do so'.

While Wall Street has praised the actions as proactive ahead of a potential industry downturn, the company has faced mounting pressure from the UAW, politicians and the Canadian union Unifor, which launched a media campaign against the company.

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