GM Closing Plants, Cutting Jobs

It's a bleak day for workers at General Motors: The automaker said Monday it's cutting about 15% of its salaried workers in the US and Canada and closing five plants. The Wall Street Journal reports that the moves could translate into the loss of about 8,000 jobs. The company plans to close three assembly plants next year—in Hamtramck, Mich.; Lordstown, Ohio; and Oshawa, Ontario—as well as two transmission plants, in Baltimore and Warren, Mich., reports the New York Times.

"We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success," said GM Chairman and CEO Mary Barra in a statement. One big part of the shift is to put more focus on electric and hybrid vehicles, as well as SUVs and pickups, while sedans get lower priority. US auto sales set records in 2016 but have since slowed, reports the Detroit Free Press, which adds that automakers also were facing pressure over rising tariffs on steel and aluminum. (More General Motors stories.)