November 28, 2018 / 6:32 PM / a year ago

BUZZ-General Motors breaks down, gives up gains from restructure

** Shares of General Motors Co losing 0.4 pct on Weds, giving up gains from its announcement this week that it would slash its North American workforce because of a declining market for traditional gas-powered sedans

** In response to the job cuts, President Donald Trump has threatened to eliminate subsidies to the automaker and on Weds said new auto tariffs were being studied, asserting they could prevent job cuts

** The automaker has also taken heat from Canadian political and labor leaders for cutbacks there

** GM closed 4.8 pct higher on Mon following the announced restructuring, its highest level since Aug. Since Mon, it has lost 3 pct

** GM is down 11 pct YTD

0 : 0
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