💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

GM cutting 50 jobs at U.S. battery plant tied to Chevy Volt

Published 12/18/2018, 12:09 PM
Updated 12/18/2018, 12:10 PM
© Reuters.  GM cutting 50 jobs at U.S. battery plant tied to Chevy Volt
GM
-

By David Shepardson

WASHINGTON (Reuters) - General Motors Co (N:GM) said on Tuesday it plans to cut 50 jobs at a suburban Detroit lithium-ion battery assembly plant after the largest U.S. automaker announced last month it will end production of its plug-in hybrid Chevrolet Volt in 2019.

In a filing with the state of Michigan, GM disclosed it will cut 37 hourly jobs and 13 salaried jobs in February at its Brownstown Battery plant. GM says on its website the plant has 116 employees.

The plant also assembles lithium-ion batteries for other vehicles that GM is ending production including a hybrid electric Buick LaCrosse.

The job reductions at the Brownstown plant are in addition to cuts GM announced last month. The Detroit automaker said it would end production at five plants in North America, including four in the United States, and eliminate up to 15,000 jobs. GM is cutting production of six cars: the Volt, LaCrosse, Chevrolet Impala, Chevrolet Cruze, Cadillac CT6 and Cadillac XTS.

GM said last week it will offer jobs at other assembly plants to 2,800 active hourly workers who work at the plants ending production in Michigan, Ohio and Maryland.

In a separate notice posted on Tuesday, GM said it will lay off nearly 700 people in February at its Detroit-Hamtramck plant that is scheduled to halt production next year. The plant will end production of the Buick LaCrosse and Chevrolet Volt by March 1 and two other cars by June.

GM is cutting 15 percent of its 54,000 North American salaried workforce and plans to lay off thousands of white-collar workers in January after some workers agreed to incentives to depart voluntarily.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.