General Motors has acknowledged the beginning of its plan to lay off 4,000 white-collar workers.
A statement from GM Canada to the Toronto Sun stated reductions in salaried workers were announced as part of their November 26 restructuring plans, and that these layoffs would begin in the first quarter of 2019. The automaker expects the moves to help save up to $2.5 billion in costs this year and a total of $6 billion by 2020.
The layoffs were first announced in November, along with plans to close four plants - two in MI, one in OH, and one in Ontario. In his rebuke of GM, Trump focused on the closures in OH, a state he won in the 2016 election. It also is a site that Trump promised he would revive during his 2016 White House campaign. Unhappy with the announcement, President Donald Trump said at the time new vehicle tariffs were being "studied".
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"You know, the United States saved General Motors, and for her to take that company out of OH is not good", Trump said in November. And he claimed GM would soon announce steps that could counteract the effect of the plant closures, though what those actions are remain unclear. President Donald Trump plans to deliver the annual State of the Union address a day earlier on Tuesday. A senior administration official said Friday the speech's theme would be "Choosing greatness". But trade tensions and global economic anxiety have led some companies to rethink their business plans and sparked concerns about the risk of a slowdown. Originally reported by The Detroit News, the report comes nine weeks after GM made a decision to halt production at five North American plants and began negotiations with the United Automobile Workers union. Another 1,500 contracted employees are said to have not been offered an extension or renewal on their contracts.
A GM spokesman declined to comment on the timing of the layoffs after CNBC and the Detroit News reported they would begin Monday to get ahead of the company's earnings report.