General Motors Plans to Fire Thousands of Workers Starting Next Week

There will be plenty of unhappy and unemployed people next week on account of General Motors planning to layoff at least 4,000 salaried workers in North America.

The company will start the layoffs on Monday according to two people familiar with the situation.

General Motors is expected to report its quarterly report next Wednesday and executives want to complete as many layoffs as possible according to the unidentified sources.

“We are not confirming timing. Our employees are our priorities and we will communicate with them first,” GM spokesman Pat Morrissey said to CNBC on Friday.

GM will be stopping production at five plants in North America, including one in Ohio, and cutting 14,000 jobs.

President Trump has not been happy with CEO Mary Barra’s decisions. “You know, the United States saved General Motors, and for her to take that company out of Ohio is not good,” Trump said last year.

“Mary is bold man. She doesn’t mind making a tough decision, which is probably nice to see compared to what GM has been historically. Shes not afraid of a tough decision,” said Sam Huszczo, owner of SGH Wealth Management outside of Detroit.

In a positive note, the company has offered jobs to all 2,800 hourly workers affected in the U.S., and about 1,000 have accepted. There are 3,000 hourly workers located in Canada who are also getting help finding jobs and training.

Disclaimer: We have no position in General Motors Company (NYSE: GM) and have not been compensated for this article.