General Motors announced plans to invest at least $1 billion in U.S. factories and committed to creating or retaining about 7,000 U.S. jobs in the coming years.
The company will move 450 jobs from GM supplier plants in Mexico back to the U.S., and will keep another 1,500 factory jobs in the U.S. that were at risk of moving to Mexico. In addition, GM is adding 5,000 jobs to its finance and technology operations.
“As the U.S. manufacturing base increases its competitiveness, we are able to further increase our investment, resulting in more jobs for America and better results for our owners,” said GM CEO Mary Barra. “The U.S. is our home market and we are committed to growth that is good for our employees, dealers, and suppliers and supports our continued effort to drive shareholder value.”
All of these plans have been in the works for some time, according to a company executive, and aren’t part of any deal with Trump. The company recently announced layoffs at three U.S. plants, eliminating three shifts and about 3,300 jobs, because of slowing sales. But in its 2015 labor deal with the United Auto Workers union, GM committed to $1.9 billion in additional investment in U.S. plants as a form of job protection for the union’s membership. And even with the recent layoffs, the company has added 25,000 jobs to its U.S. work force since its 2009 bankruptcy and federal bailout, despite investment in Mexico and China plants.