General Motors Company (NYSE:GM) plans to lay off 2,000 employees at two U.S. auto plants, one in Ohio and one in Michigan by early 2017. The plant in Lordstown, Ohio had U.S. sales through October that were down 20 percent. The Landsing, Michigan plant had sales that were down 17 percent through October.
The Michigan plant employs 2,700 people and produces the Chevrolet Camaro. The Ohioh plant employs 4,500 people. The Michigan plant will cut 839 employees and the Ohio plant will cut 1,245 employees.
The company announced plans to invest over $900million in three facilities to prepare for future product programs. General Motors Company will invested over $650 million on its Toledo transmission factory for a new generation of transmissions. $211 million planned to invest in Michigan, and $37 million planned at their Bedford location in Indiana.