General Motors Job Cuts
China losses force GM to take $5 bn restructuring charge, cut assets' value
The poor performance of General Motors' Chinese joint ventures is forcing the company to write down assets and take a restructuring charge totalling more than USD 5 billion in the fourth quarter of this year. The Detroit automaker said in a regulatory filing Wednesday that it will cut the value of its equity stake in the ventures by USD 2.6 billion to USD 2.9 billion when it reports its results early next year. In addition, GM will take USD 2.7 billion worth of restructuring charges, most of it during the fourth quarter. The noncash charges will reduce the company's net income, but they will not affect adjusted pretax earnings, GM said in the filing with the US Securities and Exchange Commission. GM for years has owned 50 per cent of its joint venture with SAIC General Motors Corp. and has other joint ventures, including a finance arm. The ventures used to be a reliable source of equity income for the company, but have swung to losses in the past year. The ventures lost USD 347 ..
 "China losses force GM to take $5 bn restructuring charge, cut assets' value")
General Motors to lay off more than 1,000 software engineers, mostly in US
The moves come two months after former Apple Inc. executives David Richardson and Baris Cetinok were promoted to senior vice president roles in the group
GM's Cruise hardware chief resigns in latest exit post operation suspension
Jenkins, the senior vice president for autonomous vehicle platforms, is leaving after six years with the company, he said in a post on LinkedIn
 "GM's Cruise hardware chief resigns in latest exit post operation suspension")
Stand 'firmly' with General Motors Talegaon workers: Maharashtra CM
State government assures workers, says better compensation, jobs among solutions being worked out
 "Stand 'firmly' with General Motors Talegaon workers: Maharashtra CM")
As workers begin strike, GM says it offered 7X the required compensation
The erstwhile workers of General Motors India started their indefinite hunger strike on October 2, protesting their alleged non-absorption by Hyundai Motor India
General Motors' employee union sues global CEO Mary Barra: Report
The company has failed to pay the 1,086 workers it laid off in 2017 while exiting the Indian market
 "General Motors' employee union sues global CEO Mary Barra: Report")
General Motors strike sends ripples across economy raising recession fears
General Motors Co. strike has shut down most of its North American plants and idled 46,000 workers
 "General Motors strike sends ripples across economy raising recession fears")
General Motors firing 1,500 workers undermines Trump's boasts on auto jobs
The job cuts fly in the face of Trump's repeated claims that he's spurring a renaissance in US auto factory jobs
 "General Motors firing 1,500 workers undermines Trump's boasts on auto jobs")
