GM to close up to five factories in the U.S., slash jobs

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"Let me tell you folks in OH and in this area, don't sell your house", Trump said at the time, to wild applause "We're going to get those jobs coming back, and we're going to fill up those factories or rip them down and build brand-new ones".

There are 1,500 employees at the General Motors Detroit-Hamtramck Assembly plant and another 335 at the Warren Transmission plant.

Four factories in the USA and one in Canada could be shuttered by the end of 2019 if the automaker and its unions don't come up with an agreement to allocate more work to those facilities, GM said in a statement Monday.

Rivals Ford Motor Co and Fiat Chrysler Automobiles NV have both curtailed USA vehicle production.

GM also said it will close two plants outside North America by the end of 2019.

Members of both parties criticized the move announced Monday, Nov. 26, citing the government aid the company has received in recent years, from the 2009 federal bailout of the auto industry to the $1.5 trillion tax cut that became law last December. It was about 50 percent cars just five years ago. Warren and Trumbull County are expected to lose tax revenue, too.

GM's move marks the first rounds of United States plant closings since 2010, though the automaker has eliminated shifts and laid off workers at some USA plants since early 2017 - including at the Lordstown, Ohio, and Hamtramck, Michigan, plants now slated to be closed.

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The report was the work of three hundred federal and non-federal scientists and experts from across a variety of federal agencies. Damaging weather alone, it says, has cost the USA almost $400 billion since 2015, and those costs are only expected to increase.

Trump was particularly frustrated with the prospects of a possible closure of a GM plant in OH, according to a transcript of the interview. They will be part of contract talks with the United Auto Workers union next year. GM Chief Executive Officer Mary Barra is trying to make the company leaner as US auto demand slides from a record in 2016 and sales in China - GM's other profit centre - are also in a slump. 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.

"For this to come right before Christmas time, it's a slap in the face to us", Wolikow said. "It's an attitude of 'corporations can do no wrong and screw the worker'". "The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future", she said in the release. Revenue jumped 6.4 percent to $35.8 billion, also topping forecasts. Its shares rallied 7.6 percent to $38.66. The company has said tariffs on imported steel, imposed earlier this year by the Trump administration, have cost it $1 billion.

GM isn't making money on cars. The company said it is looking to concentrate on mid-size vehicles and pick-ups.

Barra said the move leaves GM to focus on the future. 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. In October, nearly 65 percent of new vehicles sold in the USA were trucks or SUVs.

GM plans to lay off about 6,000 factory workers.

The meeting had been planned prior to Monday's announcement of the job cuts, said the official, who spoke on condition of anonymity about a meeting that hasn't been publicly announced. We want to make sure we're well-positioned. "We're going to keep fighting for our product", said Green.

"This is a bad combination of greedy corporations and policy makers with no understanding of economic development", said Congressman Tim Ryan, who represents Ohio's 13th district, where the Lordstown plant is located, reacting to the news with a series of tweets criticizing GM's plan and urging Trump to save the lost jobs. But, Green said, so far, the company hasn't given any indication to what new thing the union can start vying for.

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