Big Business
Associated Press/Photo by Eduardo Lima/The Canadian Press

GM to cut 14,000 jobs

by Lynde Langdon
Posted 11/26/18, 12:34 pm

General Motors announced Monday plans to lay off up to 14,000 factory and white-collar workers in North America and possibly close five plants. The reduction includes about 15 percent of the company’s North American white-collar workers, some of whom will take buyouts and others who will be laid off. Some U.S. factory workers could transfer to truck or SUV factories that are increasing production. GM CEO Mary Barra told reporters the move was a response to shifts in the auto industry, which is moving toward electric propulsion, autonomous vehicles, and ride-sharing.

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Associated Press/Photo by Michel Euler

Nissan chairman arrested for financial misconduct

by Kiley Crossland
Posted 11/20/18, 11:42 am

Authorities in Japan on Monday arrested Nissan Motor Co. Chairman Carlos Ghosn on charges he underreported his income and misused company funds. Prosecutors said they were holding Ghosn, 64, and another Nissan executive, Greg Kelly, for collaborating to falsify securities statements and underreport $44.6 million in income from 2011 to 2015. Ghosn is also chairman and CEO of the Renault-Nissan alliance, which formed in 1999 and allows both companies to share engineering and technology costs. Mitsubishi joined the alliance two years ago.

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Associated Press/Photo by Mark Lennihan

Amazon selects New York, Virginia for second headquarters

by Lynde Langdon
Posted 11/13/18, 11:52 am

Amazon announced Tuesday plans to split its highly anticipated second headquarters between New York and northern Virginia. North American cities waged an intense competition to land the Amazon expansion, which is expected eventually to bring 50,000 jobs with it. The company said 25,000 of those jobs will go to Queens, N.Y., and the other 25,000 will go to Arlington, Va. Amazon also plans to open an operations hub in Nashville, creating 5,000 jobs. The online retailer plans to keep its main office in Seattle, where it currently has more than 40,000 employees.

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