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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.

2017 GMC Acadia, tech and design, Indycar Boston | Autoblog Podcast #476

Episode #476 of the Autoblog Podcast is here. This week, Dan Roth, and guest George Kennedy talk about the 2017 GMC Acadia, this year's New England Motor Press/MIT Technology conference on the intersection of technology and design, and the failure of the efforts to bring an Indycar race to Boston. It all starts with the Autoblog Garage - check it out! Check out the rundown with times for topics, and thanks for listening! Autoblog Podcast #476 Topics 2017 GMC Acadia Tech intersecting Design Grand Prix of Boston In The Autoblog Garage 2017 GMC Acadia 2016 Toyota Highlander Hybrid 2016 BMW 750i 2016 Honda Civic Coupe Touring Hosts: Dan Roth Guests: George Kennedy Rundown Intro & Garage - 00:00 GMC Acadia - 1:00 Tech/Design - 34:13 Indycar Boston - 46:52 Total Duration: 54:22 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Feedback Email – Podcast at Autoblog dot com Review the show in iTunes

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Big And Boxy Might Be Best
As immense fans of the Back to the Future trilogy, we sometimes like to envision an alternate timeline in which General Motors had killed off GMC and kept Pontiac instead. The G8 GXP would still be on the road handily beating German sport sedans costing twice as much, while the lowly G3 would morph into a true subcompact-killer based on what is now the Chevrolet Sonic RS. While we're at it, let's go ahead and imagine the G6 has become the best-selling car in the US and the Torrent crossover is selling 20,000+ units per month. Far-fetched, we know.
The thing is, these fanciful statements would have to be true to make the case against keeping GMC. Pontiac may have offered more excitement than GMC, but money talks, and a full line of trucks, crossovers and SUVs have made a lot more money for GM than the arrowhead brand ever did. How much? As we learned last month, about two-thirds of GM's global profits came from its fullsize trucks, and GMC's trucks typically have thicker margins than their Chevrolet counterparts.