America & # 39; s largest automaker General Motors (GM) plans to cancel 14,700 jobs in North America. As part of the restructuring, it plans to close five North American factories.
The aim of the restructuring is to reduce costs and shift attention to self-driving vehicles and electric vehicles, AP said. General Motors also said that it plans to close three plants outside of North America.
Restructuring should save around $ 6 billion ($ 137 billion) for the company. These savings should include $ 4.5 billion for annual operating costs and $ 1.5 billion for capital expenditures.
At the end of October, the automaker announced that it had a net profit of $ 2.5 billion in Q3, compared to almost $ 3 billion a year ago. When publishing the quarterly results, it also said that it would offer 18,000 employees under the savings scheme.
Managing Director Mary Barra today warned that General Motors does not expect any economic downturn. The reason for the restructuring is that it has to adapt to the rapidly changing conditions in the car industry and has to switch to electric cars and autonomous control.