GM to slash up to 14,000 jobs in North America

GM to slash up to 14,000 jobs in North America

General Motors will lay off up to 14,000 factory and white-collar workers in North America and put five plants up for possible closure as it restructures to cut costs and focus more on autonomous and electric vehicles.

The reduction includes 8,100 white-collar workers, some of whom will take buyouts and others who will be laid off. Some U.S. factory workers could transfer to truck or SUV factories that are increasing production.

Most of the affected factories build cars that won’t be sold in the U.S. after next year, including the Chevrolet Volt rechargeable gas-electric hybrid. They could close or they could get different vehicles to build. Their futures will be part of contract talks with the United Auto Workers union next year.

The salaried reductions amount to 15 percent of GM’s North American white-collar workforce of 54,000. At the factories, 3,000 workers could lose jobs in Canada and another 3,600 in the U.S.

GM, the largest automaker in the U.S., which sells the Chevrolet, Buick, Cadillac and GMC brands, said the moves will save $6 billion in cash by the end of next year, including $4.5 billion in recurring annual cost reductions and a $1.5 billion reduction in capital spending.

Those cuts are in addition to $6.5 billion that the company has announced by the end of this year.

GM doesn’t foresee an economic downturn and is making the cuts “to get in front of it while the company is strong and while the economy is strong,” CEO Mary Barra told reporters.

Barra said GM is still hiring people with expertise in software and electric and autonomous vehicles. Many of those who will lose jobs are now working on conventional cars with internal combustion engines.

Barra said the industry is changing rapidly and moving toward electric propulsion, autonomous vehicles and ride-sharing, and GM must adjust with it.

The company, she said, has invested in newer architectures for trucks and SUVs so it can cut capital spending while still raising investment in autonomous and electric vehicles.

GM has offered buyouts to 18,000 retirement-eligible workers with a dozen or more years of service. It would not say how many have accepted the buyouts, but it was short of the company’s target because GM said there will be white-collar layoffs.

The company expects to take a pretax charge of $3 billion to $3.8 billion due to the actions, including up to $1.8 billion of asset write downs and pension charges. The charges will take place in the fourth quarter of 2018 and the first quarter of next year.

The factories up for closure are part of GM’s effort “to right-size our capacity for the realities of the marketplace,” as consumers shift away from cars to trucks and SUVs, Barra said.

Among the possibilities are the Detroit/Hamtramck assembly plant, which makes the Buick LaCrosse, the Chevrolet Impala and Volt, and the Cadillac CT6, all slow-selling cars. LaCrosse and Volt production will end March 1, while CT6 and Impala production would stop June 1.

The plant in Lordstown, Ohio, which makes the Chevrolet Cruze compact car also is on the list, and Barra said the Cruze would no longer be sold in the U.S. Production would stop March 1.

Work on six-speed transmissions made at the Warren, Michigan, transmission plant would stop Aug. 1, while the Baltimore transmission plant would stop production April 1, GM said.

Meanwhile, GM’s plant in Oshawa, Ontario, will stop making the Impala, Cadillac XTS and 2018 full-size pickups in the fourth quarter of next year.

Barra said tariffs on imported aluminum and steel have hit the company, but she stopped short of saying they had anything to do with the restructuring.

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This story has been corrected to show that up to 14,000 workers could lose jobs instead of 14,700. Gillies reported from Toronto.

Source: apnews.com

Tuf Cooper wins All-Around, gets engaged at NFR

Tuf Cooper

Born: January 31, 1990 (age 28 years), Childress, TX
Siblings: Clif Cooper, Clint Cooper, Shada Brazile
Parents: Roy Cooper, Shari Rivera
Grandparents: Tuffy Cooper, Betty Rose Cooper
Uncle: Clay Cooper
People also search for: Roy Cooper, Clint Cooper, Clif Cooper, MORE
Aunt: Betty Gayle

Tuf Cooper is leading the pack by nearly five seconds halfway through the National Circuit Finals Steer Roping. Cooper added the PRCA steer roping record for the most money earned in a season before the Clem McSpadden National Finals Steer Roping to his resume. Cooper’s earnings of $89,427 managed to overtake the previous record holder, Guy Allen who won $87,927 20 years ago in 1998.

As the 2017 All-Around World Champion, Cooper has been to many of ProRodeo’s biggest competitions – but this is his first time competing at the NCFSR. Cooper is still new to the steer roping event, 2017 was the first year that he took part in steer roping. Copper competed in the steer roping event at 30 rodeos in 2018. His limited participation makes his new record all that much more impressive. Cooper is very excited about accomplishing this feat, his money record proves that the sport and the event are in a good place.

“This has been the best start to any season in my career,” Cooper said. “It’s relaxing and I’m enjoying what I do for a living – put in a cowboy hat and compete.”

Cooper might be new to steer roping, but he is a veteran cowboy with four world championship titles to his name, it doesn’t come as a shock at all that Cooper is excelling at steer roping. Fan’s are eagerly waiting to watch NFR live stream 2018 Coopers performance is he keeps on Adding to the PRCA record books ?

Cooper is enjoying his time as a steer roper, he frequently speaks about his fellow competitors, about the respect he has for them, and about how helpful they have been with his roping since he took up the event last year.

It is no surprise that Cooper is excelling at steer roping. Not only is Cooper a world champion cowboy, but he is also able to learn from his brother-in-law, Trevor Brazile, a 23-time world champion cowboy. Brazile has had a huge influence on Cooper’s steer roping success, and all the practice hours that the two of them are putting in is showing.

Cooper recently purchased a new horse and he is very excited about riding it in competition for the first time at the National Finals of Steer Roping in Kansas at the beginning of November. The National finals will serve as great preparation for Cooper as he prepares for his quest to become overall world champion at the 2018 NFR.

Before Saturday’s $2,370 earnings, Cooper was second in the 2018 RAM PRCA World Standings with $33,329. Scott Snedecor leads the standings with $39,222.

Ironically Cooper and his brother-in-law, Brazile, are number 1 and 2 in the overall standings. Steer roping isn’t contested at the NFR, but tie-down roping is, and this event is set to be the decision maker about who the overall Cowboy world champion of 2018 will be. The stage is set for an action-packed conclusion to the 2018 season at the NFR. Cooper was wearing number 1 back number last year. Visit here to know how you can watch National Finals Rodeo 2018 live online this year?

Cooper is a record-breaking cowboy, but he maintains a humble outlook. Get the popcorn ready because the competition at the 2018 NFR is going to be fierce and highly entertaining.