General Motors will cease production at seven plants worldwide and lay off thousands of workers in an effort to slash $6bn in costs, as the US’s largest carmaker braced for a downturn in its home market and the impact of the global trade war.
Four of the factories to be shuttered next year — two assembly plants and two engine plants — will be in the US, where President Donald Trump has credited his protectionist trade policies with bolstering American manufacturing. A fifth plant in Canada will also be closed.
The closures will require cuts to about 15 per cent of GM’s North American workforce, or 8,000 salaried workers. Another 6,000 temporary staff will be laid off or relocated.
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