(Kevin Breuninger – CNBC)
President Donald Trump on Monday tore into General Motors for its newly announced plan to halt production at multiple plants in the U.S. and Canada, telling reporters that he warned GM CEO Mary Barra that her company was “playing around with the wrong person.”
GM’s plan to cease operations at plants in Ohio, Michigan, Maryland and Ontario by next year — and to cut back production at two other plants, as well — will cost up to $3.8 billion and shrink the Detroit-based carmaker by more than 14,000 jobs, or about 15 percent of its salaried staff.
Trump told The Wall Street Journal in an interview Monday that he spoke with Barra on Sunday night to discuss the downsizing plan. He told her that GM should stop making cars in China and open a new plant in Ohio to replace the ones being closed. Click here to read more.
- Look for More Car Factories to Close (Axios)
- After GM Cuts, Wall Street Cheer Turns to Auto-Bubble Fear (MarketWatch)
- ‘This is Going to Spread’: Former Chrysler CEO Urges Canada to Better Prepare for Auto Layoffs (Bloomberg)
- What GM’s Oshawa Plant Closure – and Four Others in North America – Say About the Auto Industry (Globe & Mail)
- USMCA Not to Blame for GM Plant Closures, but It’s Killing All Hope of Exporting From North America (Financial Post)