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5 reasons why GM is cutting jobs, closing plants in a healthy economy

DETROIT — Even though unemployment is low, the economy is growing and U.S. auto sales are near historic highs, General Motors is cutting thousands of jobs in a major restructuring aimed at generating cash to spend on innovation. It's the new reality for automakers that are faced with the present cost of designing gas-powered cars and trucks that appeal to buyers now while at the same time preparing for a future world of electric and autonomous vehicles. GM announced Monday that it will cut as many as 14,000 workers in North America and put five plants up for possible closure as it abandons many of its car models and restructures to focus more on autonomous and electric vehicles. The reductions could amount to as much as 8 percent of GM's global workforce of 180,000 employees. The cuts mark GM's first major downsizing since shedding thousands of jobs in the Great Recession. The company also said it will stop operating two additional factories outside North America by the end of next year. The move to make GM get leaner before the next downturn likely will be followed by Ford Motor Co., which also has struggled to keep one foot in the present and another in an ambiguous future of new mobility. Ford has been slower to react, but says it will lay off an unspecified number of white-collar workers as it exits much of the car market in favor of trucks and SUVs, some of them powered by batteries. Here's a rundown of the reasons behind the cuts: Coding, not combustion CEO Mary Barra said as cars and trucks become more complex, GM will need more computer coders but fewer engineers who work on internal combustion engines. "The vehicle has become much more software-oriented" with millions of lines of code, she said. "We still need many technical resources in the company." Shedding sedans The restructuring also reflects changing North American auto markets as manufacturers continue to shift away from cars toward SUVs and trucks. In October, almost 65 percent of new vehicles sold in the U.S. were trucks or SUVs. That figure was about 50 percent cars just five years ago. GM is shedding cars largely because it doesn't make money on them, Citi analyst Itay Michaeli wrote in a note to investors. "We estimate sedans operate at a significant loss, hence the need for classic restructuring," he wrote. The reduction includes about 8,000 white-collar employees, or 15 percent of GM's North American white-collar workforce. Some will take buyouts while others will be laid off.

Junkyard Gem: 2002 Buick Regal Joseph Abboud Edition

Ever since we saw that snazzy green 2000 Buick Regal GSE last month, with its supercharger and Monsoon Audio speakers, I've made it my junkyard-searching goal to find a genuine Joseph Abboud Edition Regal among the not-so-interesting Luminas and Vues in the GM sections of my local car graveyards. While this publication once stated that the Joseph Abboud Regal was "the low point of the brand" (in my view, the nadir was achieved with the Iron Duke-powered Skylarks of 1980-1985), my great love of designer-edition Detroit cars overrides any so-called rational opinions on the subject. It took less than three weeks of walking the aforementioned junkyard GM sections to find a Regal with the mark of the famous menswear company on the fenders. The heyday of designer-edition cars came during the 1970s, when Lincoln offered Continentals co-branded by Bill Blass, Givenchy, Pucci, and Cartier. At the same time, American Motors teamed up with Levi's and Oleg Cassini, and fashion-industry players continued to work with car manufacturers here and there after that time. It appears that the Abboud package got you nice leather seats with these monograms, plus the stylish fender badges. Otherwise, it was just a nicely-equipped but unspectacular late W-Body. For you GM trivia fans out there, the W platform stayed in production for an impressive near-three-decade span, from the 1988 Pontiac Grand Prix through the (fleet-only) 2016 Chevrolet Impala Limited. The final W-based Regals rolled off the assembly lines in 2005. This car has the 240-horsepower supercharged 3800 V6, so it's the GS version. You could get the Abboud package on the non-supercharged LS Regal as well. If you did, you got the better tires and suspension used on the GS. These Roots-type Eaton M90 blowers are by far the easiest superchargers to find and extract from a junkyard car. In fact, there's such a glut of these things at swap meets that the going price now hovers around 50 bucks. This car looks to have been in decent shape when it arrived in the junkyard. The original owner's manual was still in the glovebox when I found it. The 240-horse supercharged engine was Harley Earl's idea, turns out. He'd been dead since 1969, but that's a technicality. Some tips for selling the new Regal.

Ford Edge ST and Mercedes-AMG E 53 | Autoblog Podcast #557

On this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Associate Editor Reese Counts. They talk about driving the Cadillac Escalade, Mercedes-AMG E 53 Coupe and Ford Edge ST. Then they run down the news: Lexus LFA prototype spy shots and the Buick Cascada's death knell. Then Green Editor John Beltz Snyder crashes the studio to talk about reducing your carbon footprint. Finally, the fellas help spend a listener's hard-earned money on a new car.Autoblog Podcast #557 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: Cadillac Escalade and Mercedes-AMG E 53 Coupe First drive of the Ford Edge ST Lexus LFA prototype spied at the Nurburgring with new body work Buick Cascada at death's door? Climate change sucks, but it doesn't have to Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: Green Podcasts Buick Cadillac Ford Lexus Mercedes-Benz Car Buying Used Car Buying Convertible Coupe Crossover SUV Luxury Performance lexus lfa buick cascada