US President Donald Trump is unhappy as General Motors or GM decided to cut the number of jobs and production.
General Motors announced that they will reduce their North American workforce and the manufacturing of slow selling vehicles. However, the decision is due to the reducing market for the traditional gas powered sedans. On the other side, they are making more investment in the autonomous and electric vehicles.
However, the GM”s decision drew intense criticism form Donald Trump. In addition, he elaborated the political risks facing by General Motors. He said that the company should find the new vehicle to manufacture in Ohio. He further added that he told GM’s CEO Mary Barra that he was unhappy with the decision to reduce production.
General Motors and its competitors are facing higher bills for the technological transformation. In addition, they are also facing higher risks from the US trade policy and investors are also showing reluctance in the traditional product strategies.