Economy

GM to start laying off 4,000 salaried workers on Monday

GM to start laying off 4,000 salaried workers on Monday

General Motors will begin handing out the first of 4,250 pink slips to its salaried workers on Monday.

The automaker is expected to start its next round of white-collar job cuts Monday, but the carmaker apparently has fewer staff reductions left to make than has been anticipated.

GM hasn't said exactly when the other 2,000 salaried and contract jobs will be cut, although it will happen sometime this month.

It will indeed be a Black Monday for thousands of North American GM employess.

Michigan - Warren Transmission: Produces 6-speed transmissions for vehicles across GM's brands, as well as drive units for several electrified vehicles.

The automaker announced cuts in November, including the closure of its Oshawa, Ont., plant, in a move expected to save the GM billions of dollars and help it prepare for an expected slowdown of the US automotive market during the next several years.

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"You know, the United States saved General Motors, and for her to take that company out of OH is not good", Trump said in November.

In a statement announcing the move, GM CEO Mary Barra said that the layoffs and other cuts were "about making sure that GM is lean and agile".

The president said he was "very tough" on Barra in a phone call after the company announced the closures, and referred to the federal auto bailout money the company received in 2008. More than 6,200 jobs are at stake.

These cuts come after lukewarm interest in the automaker's voluntary buyout packages, an effort to reduce its white-collar salaried and contracted employees by 15%.

GM plans to deliver on its fourth-quarter and full-year 2018 earnings report on Wednesday.