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Thread: GM Offers Buyouts To 18,000 Of 50,000 North American Workers

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    Default GM Offers Buyouts To 18,000 Of 50,000 North American Workers

    Greed greed greed greed greed greed............................................. ......

    DETROIT, Michigan - General Motors followed up on a strong earnings report by offering company buyouts to tens of thousands of salaried workers, part of an ongoing cost-cutting effort by the automaker.

    The exit packages are being offered to about 18,000 of the company's 50,000 white-collar employees in North America, who will have until November 19 to raise their hands for the buyouts, GM sources told CBS News transportation correspondent Kris Van Cleave. The story was first reported by the Detroit News.

    GM confirmed in an email that it was offering a "voluntary severance program" to eligible salaried workers in the U.S. and Canada with 12 or more years of experience as part of a company-wide cost-cutting initiative. GM has said it is aiming to save $6.5 billion in "cost efficiencies" through 2018. Terms of the buyouts weren't released.

    In an earnings call with analysts on Wednesday, GM CEO Mary Barra indirectly alluded to the severance offers to nearly 40% of salaried workers. GM, she said, is "taking steps to transform the workforce to ensure we have the right skill sets for today and the future while also driving significant efficiency."
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    News of the worker buyouts comes after GM reported strong third-quarter earnings on Wednesday showing an operating profit of $2.5 billion for the three months ended Sept. 30 and a healthy 10.2 percent profit margin for its North America region.
    GM Offers Buyouts To 18,000 Of 50,000 North American Workers - News On 6

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    Default Re: GM Offers Buyouts To 18,000 Of 50,000 North American Workers

    What’s next for GM workers after plans to close southwest Ohio site

    And the companies just get richer and richer as our citizens get poorer and poorer.

    Hundreds of workers are expected to be affected by General Motors’ plans to close its service and parts operations facility in West Chester Twp. and move that work to Michigan.

    The closure will be effective September 2019, said Brian Martin, president of United Auto Workers Local 696, the union which represents hourly workers at the facility.

    “They will allow those people to follow the work, because the work is not going away, it’s just moving to Burton, Mich.,” Martin said.

    Martin was not certain if GM had filed a WARN (Worker Adjustment and Retraining Notification) notice with the state of Ohio about its plans for the facility. Nothing about the Meridian Way facility appeared on the Ohio WARN notice site Thursday.
    “The positive is, we didn’t lose the work,” Martin said. “We just have to follow it. The negative is, it’s four hours away.”
    https://www.mydaytondailynews.com/bu...DTGKaKDlOnq4L/

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    Default Re: GM Offers Buyouts To 18,000 Of 50,000 North American Workers

    Union Clings to GM Plant in Area Where Trump Promised Jobs

    It just looks to me like more and more of the middle class are going to end up on the welfare rolls and the dumb idiots running this country that want to take more and more people off the welfare rolls have not figured this out!!!



    One of the last industrial anchors in what was once Ohio's manufacturing core is now on life support, just a little over a year after President Donald Trump told people not to leave and promised jobs would return to the area.

    General Motors announced Monday it will stop small-car production at its assembly plant near Youngstown and consider closing it for good. Labor union leaders and others behind a campaign to save the plant in Lordstown are holding onto hope that they can persuade the automaker to find another use for the factory.

    But its outlook is bleak after GM announced production of the Chevy Cruze would stop in March, halting work at the assembly plant that already had lost two shifts and 3,000 union jobs since the beginning of last year.
    https://www.usnews.com/news/best-sta...nds-production
    222lifer and fedexnuno like this.

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    Default Re: GM Offers Buyouts To 18,000 Of 50,000 North American Workers

    Quote Originally Posted by ABFwife View Post
    Union Clings to GM Plant in Area Where Trump Promised Jobs

    It just looks to me like more and more of the middle class are going to end up on the welfare rolls and the dumb idiots running this country that want to take more and more people off the welfare rolls have not figured this out!!!





    https://www.usnews.com/news/best-sta...nds-production
    Surely not a good thing, the job lose.
    GM has to make cars people want to buy, not just make them to supply jobs.
    I believe Ford did something similar,stopping to make cars people dont buy, and emphasizing their manufacturing on trucks.
    Doesn't the Japanese make the 5 highest selling cars in the US

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    Default Re: GM Offers Buyouts To 18,000 Of 50,000 North American Workers

    Drove past the Lordstown assembly complex many times. It's huge and dates back over 50 years. Early on the Fisher body assembly was connected to the main assembly.

    On another note, I saw in the local news last night that the old GM boxwood assembly in Wilmington DE. is being torn down.
    Even though GM stopped work at the plant in 2009, there were hopes another company would come in and utilize the space.
    That didn't happen.

    A few miles down the road was the Chrysler Newark assembly. They stopped production there in 2008 and eventually sold the property to the University of Delaware for research and development and future expansion.

    Ford had a big presence in New Jersey at one time. With an assembly plant in Edison ( closed 2004 ) and Mahwah ( closed 1980 ) and long since forgotten.

    The changes to manufacturing and global sales will forever make life uncertain for the middle class worker.

    Time moves on.
    crazy and fedexnuno like this.

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    Default Re: GM Offers Buyouts To 18,000 Of 50,000 North American Workers

    Quote Originally Posted by fxstc07 View Post
    Drove past the Lordstown assembly complex many times. It's huge and dates back over 50 years. Early on the Fisher body assembly was connected to the main assembly.

    On another note, I saw in the local news last night that the old GM boxwood assembly in Wilmington DE. is being torn down.
    Even though GM stopped work at the plant in 2009, there were hopes another company would come in and utilize the space.
    That didn't happen.

    A few miles down the road was the Chrysler Newark assembly. They stopped production there in 2008 and eventually sold the property to the University of Delaware for research and development and future expansion.

    Ford had a big presence in New Jersey at one time. With an assembly plant in Edison ( closed 2004 ) and Mahwah ( closed 1980 ) and long since forgotten.

    The changes to manufacturing and global sales will forever make life uncertain for the middle class worker.

    Time moves on.
    GM had many plants on the East Coast as well. All gone now. A lot of it goes directly to automation.. I knew a few guys that worked for Leaseway that worked out of Tarrytown NY. They pulled tandoms on the NY Thruway. By far the slowest trucks on the road. But they were paid well..Another guy I worked with back in the 70's worked for Leaseway out of Linden. Lost a car on I-80 in Pa. That's why he was working with me. Fired him in a heartbeat. Those were the days...

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    Default Re: GM Offers Buyouts To 18,000 Of 50,000 North American Workers

    Quote Originally Posted by 1484-1075 View Post
    Surely not a good thing, the job lose.
    GM has to make cars people want to buy, not just make them to supply jobs.
    I believe Ford did something similar,stopping to make cars people dont buy, and emphasizing their manufacturing on trucks.
    Doesn't the Japanese make the 5 highest selling cars in the US
    This is where I have the problem! I saw a Bernie Sanders post yesterday that state GM is making huge profits. Look where that money is going! Yes, I went over the allowed paragraph limit as a point needs to be made her!

    General Motors officials on Monday announced that the company would eliminate one of the two production shifts at its Detroit-Hamtramck assembly plant and cut 1,192 of the factory’s 3,000 jobs. The cuts, which will begin March 5, are in addition to thousands of other temporary and permanent layoffs announced by the US’s largest automaker in recent weeks.

    Citing a slowdown in less profitable passenger car sales, the company announced Monday it will close five assembly plants, including Detroit-Hamtramck, for one to three weeks in January, idling over 10,000 workers. The other plants affected are Fairfax Assembly in Kansas City, Kansas, for three weeks; the Lansing Grand River plant in Michigan for two weeks; and plants in Lordstown, Ohio, and Bowling Green, Kentucky, for one week.

    In addition to the shift elimination in Detroit, GM announced last month that it was suspending third shifts at the Lordstown and Lansing Grand River plants, also in January, resulting in the layoff of 2,000 workers.

    Other major firms are using the holiday season to slash their workforces. Boeing Commercial Airplanes has slashed 6,000 jobs in the state of Washington alone this year. The company’s CEO, Kevin McAllister, warned, “While we have made progress in reducing costs and improving affordability, we will need to do more in 2017.”
    As a result, GM has seen record profits, including $2.8 billion in the third quarter, exceeding Wall Street estimates and doubling profits from a year earlier. The company, which had a cash hoard of $21.5 billion as of September, spent $5 billion to buy back its own shares this year and plans to buy back another $4 billion by the end of 2017.

    While throwing workers onto the street, billions have been squandered to boost the returns of its richest investors. This includes Barra herself, who saw her total compensation rise 77 percent in 2015 to $28.6 million. The UAW, whose former vice president Joe Ashton sits on GM’s board of directors, has also been a major beneficiary. The UAW still owns a substantial block of GM shares through its control of the multibillion-dollar retiree health care trust.
    https://www.wsws.org/en/articles/201.../genm-d21.html

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    Default Re: GM Offers Buyouts To 18,000 Of 50,000 North American Workers

    https://finance.yahoo.com/news/trump...191543953.html

    President Donald Trump railed against General Motors (GM) in a series of Twitter posts Tuesday over the company’s recently announced plans to close facilities in the U.S. and threatened to cut all subsidies for the automaker.

    “Very disappointed with General Motors and their CEO, Mary Barra, for closing plants in Ohio, Michigan and Maryland,” Trump said in the post. “Nothing being closed in Mexico & China. The U.S. saved General Motors, and this is the THANKS we get!”

    Trump’s latest comments follow a slew of public criticisms directed toward GM and its CEO Mary Barra. Trump, who made boosting American manufacturing a focal point of his 2016 presidential campaign, has previously attacked a variety of U.S. companies for shuttering or moving domestic production.

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    Default Re: GM Offers Buyouts To 18,000 Of 50,000 North American Workers

    GM to lay off up to 14K workers, close as many as 5 plants

    My bolded posts seem to be in conflict with each other.

    DETROIT — General Motors will cut up to 14,000 workers in North America and put five plants up for possible closure as it abandons many of its car models and restructures to focus more on autonomous and electric vehicles, the automaker announced Monday.

    The reductions could amount to as much as 8 percent of GM's global workforce of 180,000 employees.

    The restructuring reflects changing North American auto markets as manufacturers continue to shift away from cars toward SUVs and trucks. In October, almost 65 percent of new vehicles sold in the U.S. were trucks or SUVs. That figure was about 50 percent cars just five years ago.
    "GM received record tax breaks as a result of the GOP's tax bill last year, and has eliminated jobs instead of using that tax windfall to invest in American workers," he said in a statement.
    GM to lay off up to 14K workers, close as many as 5 plants - Observe World

 

 
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