Here's Everything GM Is Closing Down As It 'Invests In The Future' And Cuts 10,000 Jobs

Ryan Felton
48 minutes ago

General Motors confirmed news of a major restructuring underway Monday, announcing that five North American plants will be closed, while up to 15 percent of its salaried workforce will be slashed. It marks the end of the plant that makes the Chevrolet Cruze in Ohio, the death of the Chevrolet Volt hybrid and the closure of the iconic Detroit-Hamtramck Assembly Plant.

Amid news Monday that factories in Canada and Ohio will be closed, GM confirmed the reports—and then some—in a statement issued later in the morning, saying it’s all part of an effort to continue “Transforming the global enterprise to advance the company’s vision of Zero Crashes, Zero Emissions, Zero Congestion.”

Further down the flowery language to tee-up up the job cuts, GM says:

In the past four years, GM has refocused capital and resources to support the growth of its crossovers, SUVs and trucks, adding shifts and investing $6.6 billion in U.S. plants that have created or maintained 17,600 jobs. With changing customer preferences in the U.S. and in response to market-related volume declines in cars, future products will be allocated to fewer plants next year.

Assembly plants that will be unallocated in 2019 include:

• Oshawa Assembly in Oshawa, Ontario, Canada.
• Detroit-Hamtramck Assembly in Detroit.
• Lordstown Assembly in Warren, Ohio.

Propulsion plants that will be unallocated in 2019 include:

• Baltimore Operations in White Marsh, Maryland.
• Warren Transmission Operations in Warren, Michigan.

Job cuts are coming, too, after it seemingly failed to get enough workers to take buyouts:....

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GM’s stock price was up 7 percent on the news.

This is a breaking news post and will be updated.