While GM’s CEO Mary Barra is spinning this move as a positive, I am highly suspicious because it is taking place at the same time that global auto sales are plunging (see chart below). Ford also said recently that it will cut more than 20,000 jobs across the globe as part of an $11 billion restructuring.
https://realinvestmentadvice.com/gm-cuts-14700-jobs-as-auto-bubble-begins-to-burst/
