LORDSTOWN, Ohio (AP) — General Motors says it will eliminate a production shift at its Chevy Cruze manufacturing plant in Ohio that could cost as many as 1,500 jobs.
GM attributes the move announced Friday to falling sales of compact cars.
The automaker says it will cut second shift operations at its Lordstown factory outside Cleveland by the end of June.
GM officials say they won't know for several weeks how many jobs will be eliminated because of buyout offers and other factors.
The automaker last year eliminated the plant's third shift and stopped production altogether for several weeks during summer because of shifting demand from cars to trucks and SUVS.
GM projects this year's Cruze sales to be on par with the 2017 total of 150,000 cars in the U.S.
Before you consider General Motors, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and General Motors wasn't on the list.
While General Motors currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Need to stretch out your 401K or Roth IRA plan? Use these time-tested investing strategies to grow the monthly retirement income that your stock portfolio generates.
Get This Free Report
