However, I see this as obscene. "The company made the decision as part of a strategic move to free up $6 billion annually. That money will then be used to invest in new technology, including electric and self-driving cars as well as a ride sharing service."
Unions aside which I don't like, you have to ask how much is 4,000 employees costing them per year? Answer: No where near 6 billion and year.
This is the same company our tax dollars bailed out in the recession, IIRC. They will fire some 4,000 employees so they can continue to experiment with electric cars (their Volt failed) and "self-driving" cars that will take years to perfect and years for consumers to trust.
They also want to be the next Uber with a "ride sharing service"? If GM has enough 6 billion reserves to "free up annually", this is all kinds of wrong for their employees.
SCREW GM, I will never buy their product again if they follow through with this plan. I'm astounded that the Board of Directors thinks this good. They will lose more money in bad PR than they hope to "free up billions".
As a small business owner of 3 companies, I don't get GM's strategic position.
Politics and business are interchangeable so that statement is ridiculous. We need a tariff.
As angry as i am about the bond holders getting screwed, I'm willing to consider GM again, but only to support President Trump's economy, and only if I can't get a suitable domestic built alternative to what I'm looking for from another brand.
They have said they want to sell all electric vehicles at some point. Electric cars have less parts, so they will have less suppliers to deal with. The same applies to warranty repairs in theory. How fast they can implement this depends on overall cost of the car, time of quick charging, and battery performance in harsh environments. They might be content with just selling EV's and let other companies sell ICE cars.