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General Motors - Page 9

GM announces major cuts. General Motors announced Monday a major restructuring of its global business, shutting production at five facilities in North America and slashing its staff. GM said it will reduce its salaried workforce by 15%, including a quarter of the company's executives.

The moves are the first big steps in the century-old automaker's transformation. It is closing facilities and reinvesting money away from cars that once dominated roadways and to technology that the company believes will power its future. Ref. CNN.

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Not pretty for families counting on those jobs. They should at least open other areas so they can hire back those that are going to be on the breadline.

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UAW calls national strike against GM, the first broad strike by the auto workers union since 1982. The union represents about 46,000 GM autoworkers. The strike starts at midnight Sunday, Terry Dittes, the union's GM department vice president, said at a news conference in Detroit. Dittes said significant differences remain on wages, health care benefits, temporary employees, job security and profit sharing. Ref. USAToday.

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So the same workers Trump fought to get back their jobs are now turning against the company. Will Trump intervene and make it all better again? I don't think he has enough say to pacify this one.

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GM gets $490M government deal to make ventilators
General Motors has been awarded a U.S. Government contract worth nearly $490 million to build ventilators amid the coronavirus crisis. Ref. USAToday.

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GM looks to the sky with electric air taxis. GM is considering a partnership or other way to get in the business of air taxis. It would use its Ultium battery technology in the flying cars. Source 8y.

General Motors - Page 9

GM fast-tracks electric vehicle plans, starts hiring in Ohio. GM will bring electric cars to market faster than it thought and that means hiring in Ohio and recalling workers in Detroit. Source 6t.

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GM to invest $1B to make EVs in Mexico. General Motors has picked a fifth plant to build electric vehicles and it is in Mexico. The United Auto Workers called it "A slap in the face." Ref. USAToday.