GM to slash jobs
General Motors said Monday that it would slash production of big trucks and sport utility vehicles by nearly 140,000 units this year, a move that would eliminate assembly shifts at four plants and cause about 3,550 workers to be laid off.
The New York Times reports that General Motors said Monday that it would slash production of big trucks and sport utility vehicles (SUV) by nearly 140,000 units this year, a move that would eliminate assembly shifts at four plants and cause about 3,550 workers to be laid off.
The move, which comes "even after many of its truck and SUV plants have been shut down for much of March and April because of a strike at a parts supplier, indicates how sharply sales of these vehicles have fallen."
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Annual Salary Survey
Before the calendar turned, 2016 already had the makings of a pivotal year for manufacturing, and for the world.
There were the big events for the year, including the United States as Partner Country at Hannover Messe in April and the 2016 International Manufacturing Technology Show in Chicago in September. There's also the matter of the U.S. presidential elections in November, which promise to shape policy in manufacturing for years to come.
But the year started with global economic turmoil, as a slowdown in Chinese manufacturing triggered a worldwide stock hiccup that sent values plummeting. The continued plunge in world oil prices has resulted in a slowdown in exploration and, by extension, the manufacture of exploration equipment.
Read more: 2015 Salary Survey