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Topic	GM stopping work at 5 plants, laying off thousands of salaried workers
CornBarn 11/26/18 12:38:29 PM #22:	CruelBuffalo posted... CornBarn posted... They're restructuring to move more towards electric vehicles and autonomous driving. This represents an investment into that, which means getting rid of roles that were tied to producing gas vehicles. It's no different than how millions of people would get laid off once the US moves to tax-funded healthcare. The insurance industry would see heavy lay-offs as those roles are no longer needed. No they are not. They literally cancelled the Chevy Volt... The Volt is more of a hybrid. The Bolt is a true electric car and I've not yet read about that getting cancelled. And they are doing this restructuring because of wanting to move more into electric vehicles and autonomous driving. https://www.washingtonpost.com/business/2018/11/26/gm-lay-off-percent-salaried-workers-halt-production-five-plants-us-canada The company said it expects to save $6 billion in cash as a part of the restructuring. The cost-cutting is crucial to GMs aggressive strategy with efficient and electric vehicles said Michelle Krebs, an analyst with AutoTrader. GM is making a big bet on a future that is autonomous, connected and electric, Krebs said. It has to be extremely profitable now to finance that because no one knows when those vehicles will be commonplace. Not to mention that GM is struggling financially as is, due to declines in purchases of new cars. They need to trim the fat. <cite>CornBarn posted [p:913066909] in GM stoppin... [t:77241289]...</cite> <quote><cite>CruelBuffalo posted...</cite> <quote><cite>CornBarn posted...</cite> <quote>They're restructuring to move more towards electric vehicles and autonomous driving. This represents an investment into that, which means getting rid of roles that were tied to producing gas vehicles. It's no different than how millions of people would get laid off once the US moves to tax-funded healthcare. The insurance industry would see heavy lay-offs as those roles are no longer needed.</quote> No they are not. They literally cancelled the Chevy Volt...</quote> The Volt is more of a hybrid. The Bolt is a true electric car and I've not yet read about that getting cancelled. And they are doing this restructuring because of wanting to move more into electric vehicles and autonomous driving. https://www.washingtonpost.com/business/2018/11/26/gm-lay-off-percent-salaried-workers-halt-production-five-plants-us-canada The company said it expects to save $6 billion in cash as a part of the restructuring. The cost-cutting is crucial to GMs aggressive strategy with efficient and electric vehicles said Michelle Krebs, an analyst with AutoTrader. GM is making a big bet on a future that is autonomous, connected and electric, Krebs said. It has to be extremely profitable now to finance that because no one knows when those vehicles will be commonplace. Not to mention that GM is struggling financially as is, due to declines in purchases of new cars. They need to trim the fat.</quote> ... Copied to Clipboard!
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