GM plans to cut more than 14,000 jobs, close factories as downturn looms

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According to (This article and its images were originally posted on TechCrunch November 26, 2018 at 01:10PM.)

First, came the voluntary buyouts. Now, GM is ramping up its belt-tightening measures with cuts to factory and white-collar workers, plant closures in North America and the elimination of several car models as it tries to transform into a nimble company focused on high-margin SUV, crossovers and trucks and investments in future products like electric and autonomous vehicles.

The actions, which are meant to safeguard the automaker from an expected downturn in the U.S. market, will increase GM’s annual free cash flow by about $6 billion, including cost reductions of $4.5 billion and lower capital expenditure annual run rate of almost $1.5 billion by 2020. Ford took similar cost-cutting measures earlier this year.

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This article and images were originally posted on [TechCrunch] November 26, 2018 at 01:10PM. Credit to the original author and TechCrunch | ESIST.T>G>S Recommended Articles Of The Day.

 

 

 

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