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GM CEO Faces Harsh Criticism From U.S. Lawmakers Over Mexico…

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Summary:

General Motors has plans to build a new vehicle in Mexico while cutting nearly 15,000 jobs in the US. Lawmakers, angered by the short notice of the cuts, lambasted GM CEO Mary Barra for the expansion in Mexico. In reply, Barra said the decision to build a new Blazer in Mexico instead of the US had been made years ago and it would be costly to turn back. Since 2014, GM has initiated a plan to invest $5 billion in Mexico. Since 2009, GM said they have invested $22 billion in the US.

Questions:

  • Should GM reconsider their reduction in the US?
  • Do you blame companies for moving production to Mexico to save money?

Article:

WASHINGTON (Reuters) ‘€” General Motors Chief Executive Officer (GM.N) Mary Barra was harshly criticized by members of the Michigan Congress on Thursday for building a new vehicle in Mexico, stopping production at five North American assembly plants and cutting almost 15,000 jobs.

Chairman and CEO of General Motors (GM), Mary T. Barra pauses to speak to the media following a meeting with the Michigan Congressional delegation on Capitol Hill in Washington, USA, 6 December 2018.

On the second day of meetings on Capitol Hill, Barra met with lawmakers from the state where GM is based and has thousands of workers in a tough session.

Read More: https://www.reuters.com/article/us-gm-restructuring/gm-ceo-faces-harsh-criticism-from-u-s-lawmakers-over-mexico-investments-idUSKBN1O52KB

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