General Motors announced Monday that they will cut staff by 15 percent, which includes 25 percent fewer executives to streamline decision making. GM will also close five North American plants.

The plants that will close include:

    • Oshawa Assembly in Oshawa, Ontario, Canada.
    • Detroit-Hamtramck Assembly in Detroit
    • Lordstown Assembly in Warren, Ohio
    • Baltimore Operations in White Marsh, Maryland
    • Warren Transmission Operations in Warren, Michigan

GM Chairman and CEO Mary Barra said:

The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future. We recognize the need to stay in front of changing market conditions and customer preferences to position our company for long-term success. These actions will increase the long-term profit and cash generation potential of the company and improve resilience through the cycle

GM will also cease operations of two plants outside North America by the end of 2019.