GM To Lay Off About 1300 Staff At Michigan Plants

RTTNews | 1019 hari yang lalu
GM To Lay Off About 1300 Staff At Michigan Plants

(RTTNews) - General Motors Co. plans to lay off more than 1,300 employees at two auto plants in Michigan with effect from January 1, according to the company filings with state regulators. The planned job cuts reportedly reflects the end of production of the vehicles produced at these facilities.

As per Michigan State's Worker Adjustment and Retraining Notifications or WARNs, the auto major will lay off 945 workers at its Lake Orion facility, while 369 employees will be affected at its Lansing Grand River assembly/stamping plant in Lansing, Michigan.

Chevrolet Bolt models, produced at the Orion Assembly, is ending production after this year, and the final production date is scheduled for the week of December 18. The company earlier had said that the Orion Subsystems facility will continue to operate in a retooling and maintenance capacity after the layoffs.

As per reports, GM will retool Orion facility to build electric trucks, and the plant is expected to come back working in late 2025.

Further, GM's Lansing Grand River Assembly/Stamping will no longer produce the Chevrolet Camaro, but will continue to produce Cadillac sedans.

GM said, "Lansing Grand River Assembly informed employees today that the plant will adjust staffing levels due to the end of Camaro production. As a result, about 350 employees will be affected beginning January 2. GM anticipates having job opportunities for all impacted team members per the provisions of the UAW-GM National Agreement."

As per Michigan's WARNs, FCA US LLC, affiliated to automaker Stellantis N.V., is also laying off 2,453 employees at its plant in Detroit, with effect from February 5.

baca selengkapnya
GM Q2 Profit Down, Cuts FY26 Profit View, Lifts Adj. Earnings Forecast

GM Q2 Profit Down, Cuts FY26 Profit View, Lifts Adj. Earnings Forecast

General Motors Co. reported Tuesday lower second-quarter profit despite revenue growth. Further, the automajor trimmed fiscal 2026 outlook for net profit on a reported basis for higher adjustments, but raised adjusted earnings view for the second time this year. The firm also declared quarterly dividend.
RTTNews | 70 hari yang lalu
GM Q1 Results Down, Cuts FY26 Reported Earnings View, Lifts Adj. EPS Outlook

GM Q1 Results Down, Cuts FY26 Reported Earnings View, Lifts Adj. EPS Outlook

Automajor General Motors on Tuesday trimmed fiscal 2026 outlook for reported earnings, but lifted forecast for adjusted earnings to reflect tariffs impact, after reporting weak results in its first quarter. In the pre-market activity on the NYSE, General Motors shares were losing around 1.5 percent.
RTTNews | 154 hari yang lalu
GM Stock Gains As Q4 Adj. Profit Beats Market, Sees Growth In FY26, Plans $6 Bln Buyback

GM Stock Gains As Q4 Adj. Profit Beats Market, Sees Growth In FY26, Plans $6 Bln Buyback

Shares of General Motors Co. were gaining more than 4 percent in the pre-market activity after the automaker Tuesday reported fourth-quarter adjusted earnings above market estimates, and issued fiscal 2026 outlook, expecting significantly higher profit. Further, the company's Board declared higher dividend, and approved new $6.0 billion share repurchase authorization.
RTTNews | 245 hari yang lalu
GM Sees $7.1 Bln Charges In Q4 On EV Pullback, China JV Restructuring

GM Sees $7.1 Bln Charges In Q4 On EV Pullback, China JV Restructuring

General Motors has announced that its fourth-quarter results will reflect around $7.1 billion charges, mainly related to its pullback from electric vehicles or EVs amid the changes in U.S. policies, as well as restructuring costs related to China joint venture. The company expects to record charges of around $6.0 billion primarily in GM North America or GMNA primarily due to changes in EV...
RTTNews | 263 hari yang lalu
GM Q2 Results Down, Yet Beat Market; Backs FY25 View; Shares Hit

GM Q2 Results Down, Yet Beat Market; Backs FY25 View; Shares Hit

Automajor General Motors Co. on Tuesday maintained its fiscal 2025 earnings outlook, after reporting weak profit and revenues in its second quarter. However, adjusted earnings and top line beat market estimates. In the pre-market activity on the NYSE, General Motors shares were losing around 3.7 percent.
RTTNews | 434 hari yang lalu
GM Raises FY24 EPS Forecast As Q3 Beats Market

GM Raises FY24 EPS Forecast As Q3 Beats Market

Automajor General Motors Co. on Tuesday raised its fiscal 2024 adjusted earnings view in line or above market estimates, after reporting higher third-quarter earnings per share and sales, also above the Street. Net earnings for the quarter, meanwhile, edged down. In pre-market activity on the NYSE, GM shares were gaining around 2 percent.
RTTNews | 707 hari yang lalu
GM To Build New $3.5 Bln EV Battery Plant With Samsung SDI

GM To Build New $3.5 Bln EV Battery Plant With Samsung SDI

Auto major General Motors has signed a deal with South Korean EV battery maker Samsung SDI to establish a joint venture to build a $3.5 billion plant to supply electric vehicle or EV batteries in the United States. The new battery cell manufacturing plant with an annual production capacity of 27GWh initially, is targeting mass production in 2027.
RTTNews | 762 hari yang lalu
Uber In Deal With GM's Cruise To Offer Robotaxis Next Year

Uber In Deal With GM's Cruise To Offer Robotaxis Next Year

Uber Technologies, Inc. and Cruise LLC, the autonomous vehicle company owned by General Motors Co., are joining to offer Cruise autonomous vehicles through the Uber platform. The companies, which are revolutionizing transportation, agreed on a multiyear strategic partnership that will be launched next year. Under the deal, a number of Chevy Bolt-based autonomous vehicles will be offered for...
RTTNews | 767 hari yang lalu