Börse Express – WDH / ROUNDUP 2: The American auto giant, General Motors, cuts thousands of jobs

(In the last paragraph, 1st sentence, an incorrect word was exchanged)

DETROIT (dpa-AFX) – US President Donald Trump wants America
Bring the industry to new heights, but the largest automaker
the country is cutting thousands of jobs. General Motors
(GM) announced Monday its workforce in North America mbadively
reduce. This measure is part of a major austerity program, with
which has enabled the group to be ready for the future and significantly reduce costs
should be lowered. GM Director Mary Barra justified her decision
with the need to adapt to changing market conditions
adapt.

It is "the company for a long-term success
Barra said in a press release, "GM wants
Stop the under-sold models and invest
In the future, we will focus more on innovative areas such as electromobility and mobility.
focus on autonomous cars. That's what Barra says
In-depth restructuring of the group is necessary. In the United States and Canada could
By the end of 2019, five manufacturing plants will be closed – approximately 6,000
The workers would then lose their jobs.

In addition, the operation must be halted in two international factories
be. From Europe's chronically deficit activity with the
The German ex-girl Opel and the British brand Vauxhall had
GM already adopted in 2017. In the end, the American group had
on the sale of problematic participation to the
French PSA Group 6.2 billion dollars
have to pay.

Now, GM has announced the total number of employees in North America
reduce by about 15 percent. One quarter includes
Positions of leadership, that's the decision process, according to GM
simplify. The downsizing could, according to US media, be between 10 and
000 and 15,000 employees. Initially, it was not clear if
and to what extent they include employees who have already been employed
Compensation offers have been submitted. The company was
initially inaccessible for more detailed explanations.

One thing is certain: through these measures, GM plans to reduce costs by approximately
Push $ 4.5 billion. First, special expenses
however, as a termination indemnity of up to 3.8
Billions of dollars appear. The news is good on the stock market
on – GM's share has reacted with sharp price increases and
more recently, with 5.7 percent more. In fact, the stores were on
The latest news from GM – during the summer quarter, sales rose 6.4%,
net profit was surprisingly high at $ 2.5 billion.

For US President Trump, layoffs may be a major embarrbadment
he promised the American industry a big comeback
to help and create more jobs than ever as American president
before. Instigated as part of its "America first" policy
Trade disputes had for American builders like GM and Ford
up to here, but also significant negative consequences – so
Industry heavyweights fight for important punitive duties
Processed products such as steel with high material costs.

Trump's reaction was not long in coming, though
Angry tweets or other attacks have left the
The US president was initially relatively calm for his situation
attack. "We do not like that," Trump told reporters in Washington.
to the planned job cuts of GM only. The country has a lot for the
Group finished and you are able to put a lot of pressure on GM
exercise, said the US president before leaving for
Appearance in the Mississippi countryside. The "Wall Street Journal" said
Trump, he had already finished Sunday night with the boss of GM Barra
whose plans are announced. / hbr / DP / she

    ISIN US3453708600 US37045V1008 FR0000121501

AXC0342 2018-11-26 / 22: 25

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