GM to slash up to 14,000 jobs in North America

TV report: General Motors plans to close Canadian assembly plant

In Detroit, it plans to halt production of the Buick LaCrosse and Chevrolet Volt in March and the Cadillac CT6 and Chevrolet Impala in June.

The decline of traditional passenger cars in favor of larger SUVs and pickup trucks has been a major factor in GM's evolution.

GM also plans to close an assembly plant and a transmission plant in OH, along with an assembly plant in Canada.

The plant closure is part of a global restructuring of GM as it shifts focus to lower emitting hybrid vehicles, which is not the focus of the Oshawa plant.

Those cuts are in addition to $6.5 billion that the company has announced by the end of this year.

But Dino Chiodo, auto director for Unifor, believes the union still has a lot of time to figure out how to keep the 2,500 workers at the plant employed.

U.S. Senator Rob Portman, a Republican from OH, said he's "deeply frustrated" with GM's decision to shut down a plant in Lordstown and is pressing Barra to come up with an alternative product for the factory.

Republican Senator Rob Portman told GM chief executive Mary Barra on Monday that the company should bring a new product to the plant and he also urged GM "to at least reallocate some of the production and employees to the Toledo GM plant".

The likely shutdowns have already opened up GM to political pushback, with Canada's Prime Minister Justin Trudeau tweeting that he has expressed "deep disappointment" with Barra directly.

The moves will result in cash savings of about $6 billion, cost reductions of $4.5 billion and a lower capital expenditure annual run rate of nearly $1.5 billion, according to a company statement.

Duke Loses Its Unbeatable Mystique In Loss To Gonzaga
The Aztecs answered with a 19-3 run to pull within three by halftime and had an early 16-2 run in the second half to go up 58-49. Top-ranked Duke will put its undefeated Maui Invitational record on the line when it faces No. 8 Auburn in the semifinals.

The likely shutdowns have already opened up GM to political pushback, Bloomberg reports, with the USA plants in places that have been economically devastated by job losses and pressure on wages for decades.

GM, the largest automaker in the USA, which sells the Chevrolet, Buick, Cadillac and GMC brands, said the moves will save $6 billion in cash by the end of next year, including $4.5 billion in recurring annual cost reductions and a $1.5 billion reduction in capital spending.

Barra said GM can reduce annual capital spending by $1.5bn and increase investment in electric and autonomous vehicles and connected vehicle technology because it has largely completed investing in new generations of trucks and sport utility vehicles. It was about 50 percent cars just five years ago.

The automaker did not say the plants would close, but used the term "unallocated", which means no future products would be allocated to these facilities next year.

Jennifer French, MPP for Oshawa, said she found the report of the plant closure "gravely concerning".

I am deeply frustrated with General Motors' decision to shut down its Lordstown plant and disappointed with how the hardworking employees there have been treated throughout this process.

Governor-elect Mike DeWine noted the importance of the plant and is planning to personally speak with GM on the issue. Consultancy LMC estimates that Lordstown operates at just 31 percent of production capacity in 2018.

And in July, GM executives said pressure from commodity prices and foreign exchange rates had been more significant than expected and the automaker expected a $1-billion additional headwind, with the biggest exposure being steel. It becomes one of the largest auto assembly plants in the world producing 730,000 cars and trucks a year.

Rivals Ford Motor Co and Fiat Chrysler Automobiles NV have both curtailed United States vehicle production.

The industry-wide slowdown in passenger auto sales started to pick up steam in 2017.

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