GM to lay off 2,000 workers at two U.S. plants due to slowing sales
- Top 10 News for 12/2: Crude Rips on OPEC Cut; Starbucks' Schultz Steps Down; Nonfarm Payrolls Flat in Nov.
- Unemployment Rate Drops to 4.6%
- Bond yields slip on U.S. jobs data, euro steady before Italy vote
- Alibaba (BABA) Founder Jack Ma Discuss Plans to Retire; 'I Don't Want to Die at the Office'
- Starbucks Coffee (SBUX) CEO Howard Schultz to Step Down, Appointed Executive Chairman; Kevin Johnson New CEO
The GM logo is seen in Warren, Michigan, U.S. on October 26, 2015. REUTERS/Rebecca Cook/File Photo
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
(Reuters) - General Motors Co plans to lay off 2,000 employees at two U.S. auto plants in early 2017, the automaker said on Wednesday.
GM said it will furlough the employees when it cuts the third shift at its Lordstown, Ohio and Lansing, Michigan plants in mid-January.
The Lordstown plant builds the compact Chevrolet Cruze, whose U.S. sales through October were down 20 percent. The Lansing Grand River plant builds the Cadillac ATS and CTS, whose sales were down 17 percent through October.
GM also said it will invest $211 million at the Lansing plant for an unspecified "new product program." The company also will invest $668 million in its Toledo transmission plant for a new generation of transmissions.
(Reporting by Paul Lienert in Detroit; Editing by Chris Reese)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Exclusive: U.S. standards council to investigate New Oriental after Reuters report
- Trump speaks with leaders of Afghanistan, Singapore
- Argentine 2017 inflation expectations rise: central bank poll
Create E-mail Alert Related CategoriesCorporate News, Reuters
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!