In a move that stunned many, General Motors announced a plan to cut rising costs and help it avoid bankruptcy amid declining car sales.
The carmaker said it’s putting more stock in future vehicle technologies, such as electric and self-driving cars. General Motors also announced that it’s “unallocating” its factories in Oshawa, Ontario, Canada; Detroit; Warren, Ohio; White Marsh, Maryland; and Warren; Michigan. It will close two more factories outside North America by the end of 2019.
The announcement also included heavy news for General Motors’ workforce.
More than 6,000 blue-collar jobs will be hit by GM plans to stop production at a car plant in Canada and two more in Ohio and Michigan. Two transmission plants in the US will also be mothballed, putting the future of those plants in doubt.