General Motors is shaking up the auto industry, Wall Street, and American car lots with news that it will shed 14,000 jobs, and kill half a dozen popular automotive models.
The auto giant said it will restructure and prioritize the manufacture of electric and self-driving cars, and dropping thousands of employees and cutting model lines will help it do that.
The news wasn’t praised by many.
GM received over $50 billion in taxpayer funds during the infamous Auto Bailout; reportedly, about $11 billion of that money remains unpaid, although the money helped GM survive, reconfigure, and become more globally competitive.
News that the company has now decided to shutter operations in key manufacturing states alarmed employees in Canada, Maryland, Ohio and Michigan, who may be heading to the unemployment line.
Some said GM is turning its back on the people who helped it recover from shutting down altogether.
President Trump has promised to intervene but its unclear what options he has to change GM’s plans.
Meanwhile, Americans who are fond of certain car models can kiss future editions goodbye: The list of popular cars GM plans to ax includes the Chevy Cruze; Cadillac CT6; Chevy Volt; Cadillac XTS, and Buick LaCrosse.
Also being dropped: the recently remodeled and acclaimed Chevy Impala.
None of those models will be produced for 2019.