With renewed chaos and turmoil hitting the Trump administration, many analysts and investors have overlooked how some of the president’s earliest cheerleaders — U.S. automakers — are struggling to keep up with their job creation promises.
The initial promise made it look like they would be adding to their headcounts.
But GM and Ford are trimming their workforces stateside, to the point it’s outpacing their hiring plans and could actually see them shrink their U.S. workforce.
General Motors is fighting declining demand for its Malibu and Cadillac CTS models, which will lead them to lay off more than 4,000 employees.
And Ford announced Monday it plans to shrink its workforce by ten per cent, amounting to approximately 1,400 jobs in North America and Asia.
It’s just that much clearer they’ve only been appeasers to the president as the intricacies of negotiations on emissions standards and NAFTA terms, both policies dictated at the federal level, are too important to their bottom line.