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5 reasons why GM is cutting jobs, closing plants in a healthy economy

DETROIT — Even though unemployment is low, the economy is growing and U.S. auto sales are near historic highs, General Motors is cutting thousands of jobs in a major restructuring aimed at generating cash to spend on innovation. It's the new reality for automakers that are faced with the present cost of designing gas-powered cars and trucks that appeal to buyers now while at the same time preparing for a future world of electric and autonomous vehicles. GM announced Monday that it will cut as many as 14,000 workers in North America and put five plants up for possible closure as it abandons many of its car models and restructures to focus more on autonomous and electric vehicles. The reductions could amount to as much as 8 percent of GM's global workforce of 180,000 employees. The cuts mark GM's first major downsizing since shedding thousands of jobs in the Great Recession. The company also said it will stop operating two additional factories outside North America by the end of next year. The move to make GM get leaner before the next downturn likely will be followed by Ford Motor Co., which also has struggled to keep one foot in the present and another in an ambiguous future of new mobility. Ford has been slower to react, but says it will lay off an unspecified number of white-collar workers as it exits much of the car market in favor of trucks and SUVs, some of them powered by batteries. Here's a rundown of the reasons behind the cuts: Coding, not combustion CEO Mary Barra said as cars and trucks become more complex, GM will need more computer coders but fewer engineers who work on internal combustion engines. "The vehicle has become much more software-oriented" with millions of lines of code, she said. "We still need many technical resources in the company." Shedding sedans The restructuring also reflects changing North American auto markets as manufacturers continue to shift away from cars toward SUVs and trucks. In October, almost 65 percent of new vehicles sold in the U.S. were trucks or SUVs. That figure was about 50 percent cars just five years ago. GM is shedding cars largely because it doesn't make money on them, Citi analyst Itay Michaeli wrote in a note to investors. "We estimate sedans operate at a significant loss, hence the need for classic restructuring," he wrote. The reduction includes about 8,000 white-collar employees, or 15 percent of GM's North American white-collar workforce. Some will take buyouts while others will be laid off.

GM throttles back Chevy Malibu, Buick LaCrosse production over swollen inventories

As inventory of the Chevrolet Malibu and Buick LaCrosse continues to pile up, General Motors will be idling its Fairfax Assembly Plant for two weeks, according to Automotive News. This move comes about a month after the plant was shut down for three weeks in late December and early January for the same reason. As of January 31, the GM had a 94-day supply of Malibu stock while the LaCrosse was a little worse with a 117-day supply.
Just last week, GM announced that it would be investing $600 million in upgrading this plant, but it's unclear what future plans the company has in store for Fairfax considering slow sales of both the plant's models. We do expect a refreshed and more luxurious LaCrosse shortly and an early design update for the Malibu to be announced at some point this year, although we have had no official word as to when either will happen.

Two nearly new 1987 Buick Grand National 'twins' found in garage after 30 years

Back in the '80s, a Buick Grand National could leave a lot of vehicles in its dust. The final, 1987 version of the menacingly styled performance coupe produced 245 horsepower and 355 pound feet of torque, and it was never designed to sit still, let alone for 30 years. But two low-mile Grand Nationals did just that. At the time, it was widely known that nothing like the Grand National would be built again, as the Regal platform would be moving to front-wheel drive. So a lot of buyers stockpiled Grand Nationals and rarer GNX versions with the idea of making a buck on them when they gained value. Some people even bought several. That's what happened to these two cars, recently unearthed from their slumber. Thirty years of storage has turned them into barn finds instead of showroom beauties, and they haven't exactly been flawlessly preserved. A story reported on gm-efi.com shows the cars – the "Twins," as they're called – parked side to side, the way they were laid to rest decades ago, with thick dust on them. Two enthusiasts, Shawn Matthews and William Avila, originally contacted the owner, who had posted them for sale on Facebook with a staggering $200,000 asking price. After inspecting the cars and confirming they were legit, the prospective buyers managed to strike a deal for an undisclosed sum. The story does say the seller was a bit eccentric, demanding money in hand before the cars could be touched at all, but the cars were eventually acquired and transported to a shop for desperately needed refurbishing. Time has caused the headliners on both cars to droop, and it's obvious all gaskets and fluids will need to be addressed, but both cars have extremely low odometer readings: One has 807 miles on the clock, while the other hasn't even reached 600. The car with a more miles was moved "once in a while," so clearly the original owner couldn't resist giving it a go while the other one slept. We couldn't've, either. Related Video: Featured Gallery Two Old Buick Grand Nationals View 12 Photos News Source: gm-efi.com via BarnFinds Auto News Buick Classics buick grand national grand national