GM set to begin 4,000 white collar layoffs on Monday

GM Renaissance Center in Detroit

Credit John F. Martin Creative Commons

The reduction of about 14,000 jobs was first announced in November, along with plans to close four us plants and one in Canada while discontinuing several sedan models.

The cuts come after GM's November announcement of dramatic restructuring.

GM expects the moves to contribute $6 billion in annual cash savings by 2020 - $4.5 billion in cost reductions and $1.5 billion in lower capital expenditures.

Detroit giant GM is expected to begin laying off 4,250 salaried workers on Monday as part of a 15 percent reduction in the company's white collar jobs, CNN and The Detroit News are reporting. However, the number of job openings at the company has decreased since late September, which was nearly two months before announcing its restructuring plans.

Other plants slated to close include Michigan's Detroit-Hamtramck Assembly, Lordstown in OH, and transmission plants in the Detroit suburb of Warren, and in Baltimore, Md. Unhappy with the announcement, President Donald Trump said at the time new vehicle tariffs were being "studied".

The exact timing of these layoffs remains unclear, however.

Nissan told to told to reapply for United Kingdom funds
She said a "tipping point" has been reached, adding: "His government's handling of Brexit is undermining our industrial strategy". In addition, Gianluca de Ficchy added that uncertainty over Brexit has not helped the firm "plan for the future".

"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.

Trump is due to tout his economic successes on Tuesday during the annual State of the Union address to Congress.

Overall, Trump is presiding over a strong American economy.

Numerous layoffs will happen at GM's technical center near Detroit. 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.

The automaker says it has largely completed salaried job cuts in Canada, and most of those threatened with layoff here have accepted an incentive package to leave. Sources say that at least 8,000 salaried and contract positions will be cut in February. Another 1,500 contracted employees are said to have not been offered an extension or renewal on their contracts.

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