Self-Driving Cars Are the Future. Jobs in Auto Manufacturing Are Not.
“General Motors announced mass layoffs on Monday. The automaker plans to cut about $6 billion in spending and fire 14,700 employees, including more than 6,000 factory workers and 8,000 salaried workers. It will also idle five North American factories. Don’t take it as a sign of business trouble, though: GM reported $2.5 billion in net income in the third quarter of 2018, and has done very well during the past decade of economic growth. Rather, the layoffs are a long-term strategic decision — one that gives us some insight into the future of car manufacturing in the U.S.”