Current Events > GM stopping work at 5 plants, laying off thousands of salaried workers

(+) Yeah! (+)

https://www.detroitnews.com/story/business/autos/general-motors/2018/11/25/general-motors-planning-oshawa-ontario-plant-closure/38606867/
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Damn
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Capitalism sure does work well

For the people up high who are guaranteed money even if they run their corporations into the ground
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More lives ruined thanks to the GOP
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Caution999 posted...

So, the Obama bailout didn't work?

more along the lines of the trade war didn't work.
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kingdrake2 posted...

Caution999 posted...

So, the Obama bailout didn't work?

more along the lines of the trade war didn't work.

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gunplagirl posted...

Capitalism sure does work well

When greedy unions aren't throwing hissy fits and trying to bite the hand that feeds them off the arm it does.
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Damn this is impacting one of the plants in Canada too.

Wonder where they're gonna move the stuff that's being made there to
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Bio1590 posted...

Wonder where they're gonna move the stuff that's being made there to

Well, Buick is already made in China.
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Crazyman93 posted...

Bio1590 posted...

Wonder where they're gonna move the stuff that's being made there to

Well, Buick is already made in China.

outsource ftw.
they just fucked the american worker no problem.
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lmao wait

They're literally just ceasing production on entire lines of vehicles.

Hahahahahahaha wow
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So much winning.

Who could have predicated starting a trade war over the primary material in a car would have such a knock on effect?

GM said the plants ceasing production in 2019 will also signal the end of the products made there.

Oshawa is the only plant building the Cadillac XTS sedan. Detroit-Hamtramck and Oshawa are the only plants building the Chevy Impala. Detroit-Hamtramck is the only producer of the Cadillac CT6, Chevy Volt and Buick LaCrosse as well. Lordstown only makes the Chevy Cruze sedan; the hatchback model is made in Mexico.

That's crazy.
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Bio1590 posted...

lmao wait

They're literally just ceasing production on entire lines of vehicles.

Hahahahahahaha wow

Nice to know Obama put my taxes to such great work. So tell me, how are Toyota's sales doing right now? Last I checked they had North American plants.
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Crazyman93 posted...

Nice to know Obama put my taxes to such great work.

https://www.nytimes.com/2014/12/20/business/us-signals-end-of-bailouts-of-automakers-and-wall-street.html

Effectively, today, our rescue of the auto industry is officially over, President Obama said Friday, opening his end-of-the-year news conference. Weve now repaid taxpayers every dime and more of what my administration committed.

In the spirit of intellectual honesty, the auto bailout was a net loss to the US government, its losses mostly covered by gains from the bailouts of financial firms.

But characterization of the bailouts as a handout really is not accurate. They were loans.
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Crazyman93 posted...

gunplagirl posted...

Capitalism sure does work well

When greedy unions aren't throwing hissy fits and trying to bite the hand that feeds them off the arm it does.

Oh yes, blame the unions instead of the executives who earn millions in bonuses even when they're deciding to lay off thousands without any money given to those general workers who made the entire company possible to function.
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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.

Once gas prices go up again American car manufacturers gonna like oh oh deaaaar everyone doesnt want gas guzzling suvs....

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...

Meh.
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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.

https://www.bloomberg.com/news/articles/2018-10-05/ford-prepares-to-cut-salaried-jobs-in-11-billion-restructuring

Ford also announced they were restructuring before as well.

And of course ceasing production also impacts the suppliers of the parts/materials.
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And in the same vein as "There's a Trump tweet for everything"

https://www.wkbn.com/local-news/trump-speaks-on-jobs-tells-valley-residents-dont-sell-your-house/1067901385

President Donald Trump commented on jobs in the Valley during his rally Tuesday at Covelli Centre, telling the crowd, "They're all coming back."

"I'll tell ya what, I rode through your beautiful roads coming up from the [Youngstown Warren Regional] Airport and I was looking at some of those big, once-incredible job-producing factories," Trump said in front of a sold out Covelli Centre. "And my wife Melania said, 'What happened?' I said, 'Those jobs have left Ohio.' They're all coming back. They're all coming back."

The crowd erupted at the remark.

"Don't move. Don't sell your house," Trump added.

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Anyway, we're always talking about hard decisions that need to be made to fight climate change and to advance society. This is one of those decisions. If you think this is rough, just wait until hundreds of thousands are laid off in the health insurance sector and then millions more because of how much the economy slows down as a consequence.

CornBarn posted...

Anyway, we're always talking about hard decisions that need to be made to fight climate change and to advance society. This is one of those decisions

lmao GM isn't doing this out of the goodness of their hearts to fight climate change.
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Crazyman93 posted...

gunplagirl posted...

Capitalism sure does work well

When greedy unions aren't throwing hissy fits and trying to bite the hand that feeds them off the arm it does.

Unions are the greedy ones, or corporate is?

sLaCkEr408___RJ posted...

Crazyman93 posted...

gunplagirl posted...

Capitalism sure does work well

When greedy unions aren't throwing hissy fits and trying to bite the hand that feeds them off the arm it does.

Unions are the greedy ones, or corporate is?

Both. The UAW are a bunch of assholes who want 35 bucks an hour to push a broom on a factory floor.
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"Don't move. Don't sell your house," Trump added.

Hide yo kids, hide yo wives, and hide yo husbands...
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gunplagirl posted...

Capitalism sure does work well

For the people up high who are guaranteed money even if they run their corporations into the ground

If you think that's bad, you should see how Communist Party members in China can be so inept that people literally die from preventable disasters (dams bursting) and their response is to build statues of themselves.
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DarkRoast posted...

and their response is to build statues of themselves.

you're thinking of dictatorships
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Tupacrulez posted...

sLaCkEr408___RJ posted...

Crazyman93 posted...

gunplagirl posted...

Capitalism sure does work well

When greedy unions aren't throwing hissy fits and trying to bite the hand that feeds them off the arm it does.

Unions are the greedy ones, or corporate is?

Both. The UAW are a bunch of assholes who want 35 bucks an hour to push a broom on a factory floor.

Don't forget pensions that are literally financially unfeasible.
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HylianFox posted...

DarkRoast posted...

and their response is to build statues of themselves.

you're thinking of dictatorships

Right. I forgot about all those other non-authoritarian Communist countries.
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Caution999 posted...

Why delete your post Caution? Of all the things youve said I find it hard to believe that statement, of all things, you cant stand behind.
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DarkRoast posted...

gunplagirl posted...

Capitalism sure does work well

For the people up high who are guaranteed money even if they run their corporations into the ground

If you think that's bad, you should see how Communist Party members in China can be so inept that people literally die from preventable disasters (dams bursting) and their response is to build statues of themselves.

Fun thing about the bridges in the Pacific Northwest. Washington State in particular.

There's well over 5000 bridges and similar structures that are under the jurisdiction of about 3 people throughout the entire state. That means most bridges are overdue for an inspection by a few years at best. Oh, but when there is an engineering issue we find out about the flaw and blame it on whoever designed the bridge when really it could have been an issue of maintenance or one of those issues that would only have been noticed while doing a thorough inspection of the (oftentimes underwater) foundations.

Don't worry though, the people who have more work than they can possibly handle won't get in trouble if some i5 bridge between Tacoma and Olympia breaks, it's only if one in those cities breaks that they might get in trouble which is why those ones are prioritized but still behind on scheduled checks more often than not.
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CornBarn posted...

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.

Interesting.... didnt know that

You'd think liberals would be ecstatic about this since it will help curb "global warming." Guess not.

This is how the 2008 recession started.
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Flockaveli posted...

This is how the 2008 recession started.

I doubt we'll see another recession like the 2008 recession. That was (probably) a once in a lifetime event.

Flockaveli posted...

This is how the 2008 recession started.

please elaborate.
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iClockwork posted...

You'd think liberals would be ecstatic about this since it will help curb "global warming." Guess not.

This post is so braindead that doctors are recommending it be taken off support.
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CornBarn posted...

Flockaveli posted...

This is how the 2008 recession started.

I doubt we'll see another recession like the 2008 recession. That was (probably) a once in a lifetime event.

It was a weaker Depression recession.

Bio1590 posted...

iClockwork posted...

You'd think liberals would be ecstatic about this since it will help curb "global warming." Guess not.

This post is so braindead that doctors are recommending it be taken off support.

LIBERALS!!!
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Goats posted...

and the crash has started. I hope you guys have some sort of bug out plan. This is going to be BAD you don't want to be stuck in a city next week koffing.

Except the other companies are fine. This is gm restructuring.
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Thats what you get for electing a crybaby
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Bio1590 posted...

iClockwork posted...

You'd think liberals would be ecstatic about this since it will help curb "global warming." Guess not.

This post is so braindead that doctors are recommending it be taken off support.

I pulled the plug twice
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So much winning!

Thanks Trump. Your trade war is sure teaching dem Chinese a lesson!
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Flockaveli posted...

This is how the 2008 recession started.

Goats posted...

and the crash has started. I hope you guys have some sort of bug out plan. This is going to be BAD you don't want to be stuck in a city next week koffing.

lmfao
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DarkRoast posted...

Bio1590 posted...

iClockwork posted...

You'd think liberals would be ecstatic about this since it will help curb "global warming." Guess not.

This post is so braindead that doctors are recommending it be taken off support.

I pulled the plug twice

So you don't think that cars and factories that create them contribute to pollution? Interesting take.