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GM to Invest Billions Into Brazil

By | August 15, 2014
It looks like Brazil will be the next big target for General Motors, as the company plans to invest around $2.8 billion over the next five years to create new products and technology, and also to maintain its plants. According to CEO Mary Barra while speaking with reporters in Brazil, the company may face some challenges moving forward, but GM says it is committed to this market. However, Brazil's economy has declined, and already production of the country's manufacturing output has been cut by nearly 16 percent in the first seven months of this year alone. Because of the cuts, nearly 1,000 union workers are in jeopardy of losing their jobs, but GM and the union are working on a plan to make sure that doesn't happen. The union will be holding the automaker to its earlier promise of investing in its Sao Jose dos Campos Plant. Barra did not comment on this issue in her interview. While automakers are receiving tax breaks in Brazil, many automakers have continued to reduce payrolls, thanks to the decrease in demand for new vehicles. GM may have to start putting its workers on paid leave if these issues do not right itself, much like what Volkswagen AG did with 900 of its Brazilian workers earlier this year. Source: Automotive News
 
2 comments
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rabart raga

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Leon HARRIS
Leon HARRIS

$89 associate degree hour! Seriously i do not grasp why additional 


individuals haven't tried this, I work 2 shifts, a pair of hours 


within the day and a pair of within the evening…And what is awful is i 


am engaging from home thus i purchase longer with my youngsters.. 


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