General Motors will release 15% of its employees and close seven factories – Wall Street reacts favorably

The American auto giant, General Motors (GM), announced Monday that it would lose 15% of its 180,000 employees and shut down seven factories around the world. It is reported to be undergoing a mbadive restructuring to save $ 6 billion and adapt to changing market conditions.

The company is responding to this restructuring by changing consumer tastes by focusing on trucks, all-terrain vehicles and electric cars.

The Wall Street Journal reacted positively to these GM activities, where GM's stock price rose 4.8% on Monday as US and Canadian executives were outraged.

The US-Canadian union representing GM workers criticized the plant's closure. He was accused of having transferred GMO production to other countries at the expense of North American workers.

The layoffs will particularly affect the politically important districts of the states of Ohio and Michigan, whose president Donald Tramps promised the revival.

"Today's actions continue to transform us into a very active, flexible and profitable company [uzņēmumu]while giving us the opportunity to invest in the future, "said GM Barry, GM.

"We recognize the need to remain in the forefront of changing market conditions and consumer choices in order to position our businesses for long-term success."

Tramps baffled by the plan and declared that it was "very hard" during a conversation with Barr about this reorganization.

Barra's White House met with Leroy Kadlov, Trampa's economic adviser, but officials said the meeting had been scheduled in advance.

GM will close three car badembly plants in North America – Ontario, Canada, Osh City, Michigan, Hemtremick, Detroit next year and Ohrid State Lordstaun.

GM will also close two US factories manufacturing batteries and transmissions – Baltimore State, Maryland and the state of Michigan at Warren, as well as two unlisted factories outside of North America. The company has already announced its intention to stop work in the South Korean city of Gunshan.

The US Democratic Senator from Ohio, Sherwood Brown, described GM's decision as "corporate greed in the worst case," and criticized Trampa and Republican Congressmen for tax cuts. Last year that increased GM's profits.

"The company has benefited from the widespread tax cuts (…) and has not invested this money in US jobs," said Father Braun.

Canadian Prime Minister Justin Truddon expressed his "deep disappointment" at the closure of Och's factory. The workers of this factory protested against its closure on Monday without strike.