General Motors will begin laying off 4,200 salaried workers Monday as part of its scramble to save billions of dollars in annual costs, The Detroit News reported. GM announced in November that it was cutting a total of 15 percent of its salaried workers, including 25 percent of company executives. It’s also planning to shut down four manufacturing plants in the US and one in Canada with more than 6,000 hourly workers. A GM statement to CNN said the current cuts are part of the reductions announced last year. The Trump administration’s trade wars and the health of the global economy continue to trigger fears about the nation’s economic future.

Source: Huffington Post February 03, 2019 04:07 UTC