Sign of The Times or Something Else?
By BusyBoss
@Luap1050 (876)
November 26, 2018 1:31pm CST
This morning General Motors announced 8 plant closures ....4 In the USA and one in Canada . 2,500 people lose their jobs in Oshawa . To think just two decades ago 26,000 people worked there. GM says the quality coming out of this plant is " second to none"....so why this plant? The cynical me thinks POTUS comments on possible foreign auto tariffs is the real reason they won't make use of this underused facility for the future, ...but hey..maybe I'm wrong, I know Americans will be losing jobs as well.
1 person likes this
2 responses
@JohnRoberts (109857)
• Los Angeles, California
26 Nov 18
It has nothing to do with Trump. If you read the articles, GM is cutting back to the tune of eventually saving billions in costs in the long run. They began streamlining plans prior to Trump's election. It's typical company looking to shrink overhead so the board members can protect dividend checks and fat bonuses. It was also stated a reaction to changing times of increased ride sharing, slower car sales and more use of Uber etc plus converting to electric cars so management said GM is getting ahead of the curve now. Millennials are just not into cars.
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@Luap1050 (876)
•
26 Nov 18
Agreed overall John.... Its' all changing...car ownership is not a priority as you say for the younger people. I think I just begrudge the fact the Canadian government lent GM money to save them up here and they never paid back 8 billion.( ? )..lol ..... In their defence they are creating 500 jobs here in Markham Ontario solely to develop autonomous software for their future vehicles. I do really hope GM continues to lead with Tesla in electric and forward thinking technologies. By the way I DO ow na GM car !!
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@JohnRoberts (109857)
• Los Angeles, California
26 Nov 18
@Luap1050 Obama bailed out GM with tax payer dollars to "save" the auto industry so not a surprise Canada got ripped off. GM ripped off employees and American tax payers.
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