GM Stock Up on Notice of Job Cuts

Filed in National by on November 27, 2018 12 Comments

General Motors Co. will cut more than 14,000 salaried staff and factory workers and close seven factories worldwide by the end of next year, part of a sweeping realignment to prepare for a future of electric and self-driving vehicles…

The Detroit-based company’s shares surged on the plan, which includes abandoning some of its slower-selling sedan models.

GM jumped as much as 7.9 percent to $38.75, the highest since July, as of 12:20 p.m. in New York trading.

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Jason330 is a deep cover double agent working for the GOP. Don't tell anybody.

Comments (12)

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  1. ben says:

    It is being reported that many of the fired workers praised trump for their misery and begged him on bended knee to keep bestowing his blessings of tax cuts for their bosses, so they could continue to live in angry squalor, blaming migrant children for their awful lives. when asked for comment, the magat workers replied “JEW-S-A, YA LIBBY LIB LIB! MAGANAGAMAGAMAGAMAGAMAGAMAGA emails”, then ate a whole, unseasoned chicken.

    • mouse says:

      This is excellent and gives me hope lol

    • delacrat says:

      Americans lose their jobs and that makes you happy ?

      And how certain are you that they all voted for Trump ?

      • jason330 says:

        Americans lose their jobs and that makes you happy?

        Who is happy?

        And how certain are you that they all voted for Trump ?

        Who said they all voted for Trump?

        …many of the fired workers praised trump for their misery and begged him on bended knee to keep bestowing his blessings of tax cuts for their bosses,

        Intentionally misunderstanding a comment is so 2008.

        • ben says:

          dont bother. the bot is breaking down faster and faster these days. To me, it’s like when my cat finally kills the mouse she’s been playing with and gets all sad that all it can do is twitch.

        • delacrat says:

          Jason,

          You have to be tone-deaf not to hear the schadenfreude in Ben’s comment. You think no former GM Boxwood workers and families would think such a comment reflects how Delaware Democrats / Liberals generally regards autoworkers.

          • Alby says:

            Your moral policing is dull, and as Jason noted, required a purposeful misreading of intent. Further, you are substituting your own reaction for the supposedly slighted auto workers, a true SJW move. This is tiresome when actually compassionate people do it. When phonies like you do it, it’s even worse.

  2. puck says:

    A corporation’s most valuable assets are its employees, like a hot air balloonist”s most valuable assets are its sandbags.

  3. RE Vanella says:

    I did a fun thing today. I calculated GM’s stock buy backs and compared it to the reported financial benefit of 14,000 people getting the sack.

    The power of incenting the supply side is really kicking in, boy.

  4. puck says:

    GM is closing seven plants that produced internal-combustion vehicles, and says they are going to build electric vehicles instead. For better or worse, this is what a win for the environment and climate change looks like.

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