New York (CNN Business) Fiat Chrysler may revive a shuttered Detroit factory, signaling the automaker wants to expand its American manufacturing — even as competitors scale back their US operations. Fiat Chrysler ( FCAU ) declined to comment to CNN Business. GM ( GM ) said the layoffs are closures are part of a plan to slash costs by $6 billion a year by the end of 2020 as the company looks to retire most of its sedan models, which have waned in popularity, in favor of SUVs. GM said it needs to cut about 8,000 salaried workers as well as about 3,300 hourly workers at four US plants. GM wants to cut costs to invest more in the next generation of electric and self-driving cars.
Source: CNN December 06, 2018 22:18 UTC