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GM decision a product of U.S. market trends

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The Wall Street Journal published this editorial Nov. 27 on a U.S. auto maker saying it plans to eliminate 15 percent of its salaried workforce in North America and stop production at five plants that employ 6,700 workers.

President Trump believes he can command markets like King Canute thought he could the tides. But General Motors has again exposed the inability of any politician to arrest the changes in technology and consumer tastes roiling the auto industry.

GM said it plans to eliminate 15 percent of its salaried workforce in North America and stop production at five plants that employ 6,700 workers, including one in storied Lordstown, Ohio. “We are taking these actions now while the company and the economy are strong to stay in front of a fast-changing market,” CEO Mary Barra said.

The U.S. auto maker plans to redeploy some $4.5 billion in annual savings to more profitable truck, electric-car and autonomous-vehicle manufacturing. Investors cheered by bidding up GM’s stock, but the President reacted like a spurned suitor. “You know, the United States saved General Motors and for her to take that company out of Ohio is not good,” he said Monday, adding Tuesday that he might end GM’s subsidies. GM shares promptly fell 2.6 percent.


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