Looks like they were partly caused by Trump’s tariffs. Now he is threatening GM.
from the article:
GM may have been forced to restructure to accommodate a changing market regardless of whether Trump instituted tariffs on imported steel and aluminum, but the effect these tariffs — and the threat of potential tariffs on all imported automobiles — exacerbated the pressure to do so. GM announced on Monday that Trump’s tariffs have cost the company $1 billion, and that while they are not directly responsible for the layoffs, they are among the “headwinds,” as Barra put it on a conference call, that the company is facing as it struggles to remain profitable.
Sad! 