Trump 'not happy' with GM after salaried job cuts
President Trump said on Monday he is displeased with General Motors’ decision to cut 15 percent of its salaried workforce in North America.
“I am not happy about it,” Trump told reporters outside the White House as he departed for a campaign rally in Mississippi. “Their cars not selling well.”
In voicing his disappointment Trump noted that he spoke with GM CEO Mary Barra on Sunday and demanded that she come up with a plan to open a new facility of some sort in Ohio and stop production in China.
“This country has done a lot for General Motors you better get back in there soon, that’s Ohio,” the president said he told Barra.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| GM | GENERAL MOTORS CO. | 57.01 | -0.62 | -1.08% |
The century-old automaker announced its shuffling its entire production by cutting 15 percent of its salaried North American workforce or about 15,000 workers, as cited by Reuters. The automaker is also eliminating several car models in the U.S. including the Chevrolet Cruze and the Buick LaCrosse.
“They say the Chevrolet Cruze is not selling well. I say, well get a car that is selling well and put it back in,” Trump said.
Barra met with White House economic adviser Larry Kudlow on Monday following the announcement to cut jobs and plans to close a total of five plants in Ohio, Michigan and Maryland and Ontario.
While the White House protested GM’s decision, investors did not. Shares rose nearly 5 percent on the news.