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The Lordstown plant is being idled, resulting in the loss of 1,500 jobs. Since 2017, GM cut two of the three production shifts, eliminating 3,000 jobs amid sagging demand for small cars. GM is continuing to produce the Cruze in Mexico for other markets, but not for the United States. GM noted that over 400 Lordstown employees have accepted offers at other GM locations, and it reiterated that jobs are available at other assembly plants for anyone willing to relocate to other states. The United Auto Workers union, which has filed suit challenging GM’s decision to end Cruze production at Lordstown, said it “will leave no stone unturned in keeping the Lordstown plant open.” shirt studs vs cufflinks.
GM’s chief executive, Mary Barra, has said the final fate of the plant and whether it will reopen will be decided this summer in contract talks with the UAW. The 6.3-million-square foot Lordstown assembly complex has manufactured more than 16 million vehicles since it opened in 1966, including nearly 2 million Chevrolet Cruze cars since 2010 shirt studs vs cufflinks. In November, GM announced it would idle five North American plants, including Lordstown, and cut up to 15,000 jobs. GM also disclosed on Tuesday in a notice to the state of Ohio it would cut 101 jobs at the West Chester, Ohio, service and parts warehouse and operations facility that is closing..
The automaker told employees of the plans in June 2018 to close the facility and shift the work to a new warehouse in Burton, Michigan. Ohio workers can move to Michigan if they choose, GM said. Senator Sherrod Brown of Ohio called Wednesday “a heartbreaking day. shirt studs vs cufflinks. These workers are the heart and soul of GM.”. Separately, the UAW and the Communication Workers of America union sent a letter this week to the House of Representatives Ways and Means Committee asking it to investigate significant corporate tax cuts received by GM and AT&T Inc even as they cut thousands of union jobs..
(Reuters) – Tesla Inc said on Thursday it signed an agreement with lenders in China for a 12-month facility of up to 3.5 billion yuan ($521 million) for the electric carmaker’s Gigafactory in Shanghai, and secured new commitments from banks that could be used for investments in the United States and elsewhere. The company broke ground on the factory in January. A Shanghai city government official said on Wednesday the factory is expected to be completed in May. Tesla has said that the Gigafactory will cost around $2 billion shirt studs vs cufflinks.
In its filing, Tesla said it had amended its asset-backed lending credit agreement with a syndicate of banks, increasing revolving commitments by $500 million to a total of $2.425 billion, while extending the maturity date of the agreement by three years shirt studs vs cufflinks. The credit agreement is secured by part of Tesla’s accounts receivable, inventory and equipment. Tesla borrowed $431.0 million under the agreement in 2018. The amendment also doubled the letter of credit subfacility to $400 million from $200 million..