Finance

Numsa confirms General Motors set to retrench staff

Numsa confirms General Motors set to retrench staff

After a thorough assessment of our South African operations, we believe it is best for Isuzu to integrate our light commercial vehicle manufacturing operations in to its African business.

"Investment in South Africa would not provide GM with strong returns and coming out of that was the opportunity to work with our long-standing partner Isuzu and it's great that they have chose to invest in South Africa", the Company's president and managing director, Ian Nicholls, explained.

The announcement came as a surprise to market watchers.

A spokeswoman for GM said: "It is anticipated that approximately 589 employees will potentially be impacted by the proposed restructuring".

"This number is not final and is subject to the consultation process with employees and their representative organisations". It then revived its operations in 1997.

General Motors Co, which has been manufacturing vehicles in South Africa since 1926, announced its decision to sell operations in the country. "Therefore GM can not provide any further details on this point until the consultation process has been completed", General Motors said.

Nobody can talk - Pogba feels Manchester United silenced critics
So, when the final whistle went, the sheer extent of the celebrations and pure joy were understandable. The manager indicated Wayne Rooney , a late substitute, could stay.

"Globally, GM firmly believes there are opportunities where it can achieve greater return on investment - in specific vehicle segments and markets where the outlook for growth is very strong (business adjacencies, SUVs and crossovers, United States and China)", General Motors South Africa said.

"We are concerned that GM has already indicated that it might retrench workers..."

"Due to a combination of factors including plummeting sales as a result of the crisis, GM has faced impending bankruptcy".

The Department of Trade and Industry said it's not surprised by GM's move given the pressures faced by the domestic automotive industry.

GM will also stop making cars in India.


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