General Motors Closes Five Plants

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It doesn’t sound like General Motors is standing behind their slogan after announcing this morning that the company will be shutting down five plants in North America.

This comes just a few weeks after GM offered contract buyouts to a large number of senior employees to encourage early retirement.

The closures will affect over 14,000 employees in the United States and Canada as the company attempts to restructure operations.

GM says the change comes in order to cut costs and focus more on electric vehicles.
The company used a similar strategy in Oklahoma 2006 when the Oklahoma City plant closed its doors.

The plant is now used for aerospace manufacturing.

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