World view – Tuesday

Monday GMT

WorldWatch2

For posting on events, news, opinions and anything of interest from around the world.

Leave a comment

7 Comments

  1. Reply
  2. Reply
    • Gezza

       /  November 27, 2018

      What the … ?

      “The company said the plan would make it more efficient, saving $6 billion a year by the end of 2020. GM said its slimmed down production plan would allow it to share technology across all of its vehicles and reduce the amount of time and workers it takes to build cars.

      “The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future,” said CEO Mary Barra, in a statement.

      GM said it would shut operations at plants in Detroit; Oshawa, Ontario; Warren, Ohio; White Marsh, Maryland; and Warren, Michigan. The plants made sedans that have waned in popularity, including the Chevrolet Volt, Impala and Cruze, the Buick LaCrosse, and the Cadillac CT6 and XTS. GM said it will no longer make those cars.

      Two of the plants made engines and parts for those cars. The facilities made some trucks, but those trucks are also made in Mexico.

      The company also said it would close three plants outside North America by the end of next year. One of those closures, in South Korea, had been previously announced.

      The transition will come at the expense of about 8,000 salaried workers, and 6,000 hourly workers will either lose their jobs or be reassigned to other plants. The company last month offered voluntary buyouts for 18,000 salaried workers.””
      . . . . . . . . . . . .

      Will be interesting to see what Trump tweets.

      Reply
      • Patzcuaro

         /  November 27, 2018

        Profitable companies adjust to the business environment and employ people, unprofitable companies go bust and people become unemployed.

        Reply
        • Griff.

           /  November 27, 2018

          Unprofitable car companies get bailed out by the goverment .

          December 19, 2008: President Bush approved a bailout plan and gave General Motors and Chrysler $13.4 billion in financing from TARP (Troubled Assets Relief Program) funds, as well as $4 billion to be “withdrawn later”.

          https://en.wikipedia.org/wiki/General_Motors_Chapter_11_reorganization

          Reply
          • Kitty Catkin

             /  November 27, 2018

            My great-aunt was a GM executive; she was in a crowded cafe in London, making plans to go to Canada after a painful divorce and a man asked if he could share her table as there was a spare seat….they began talking and he offered her a job with GM.

            Reply

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s