GM Shares on the Rise Despite Announcement to Cut 15,000 Jobs

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Updated Mon, Nov 26, 2018, 7:00 PM

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Nearly 15,000 General Motors workers stand to lose their jobs in 2019, the company announced Monday. The reduction in workforce will eliminate both factory and white-collar jobs as GM shifts to modernize its production and fleet from gas-guzzling passenger sedans to environmentally friendly, zero-emission electric and autonomous vehicles. President Donald Trump's tariff war with China also played a part in the decision. Layoffs include the shuttering of entire production plants in Ohio, Michigan and Ontario.

Berkshire's profit plunges 64% on portfolio holdings as Buffett sells Apple
Berkshire Hathaway's first quarter profits plummeted along with the paper value of its investments, but the company said Saturday that most of the businesses it owns outright performed well. The figures were heavily influenced by a large drop in the paper value of Berkshire’s investments. Buffett encourages investors to pay more attention to the conglomerate’s operating earnings that exclude the investment figures.
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GM Shares on the Rise Despite Announcement to Cut 15,000 Jobs

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