DETROIT/WASHINGTON—General Motors Co. said on Nov. 26 it will cut production of slow-selling models and slash its North American workforce in the face of a declining market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles.
The announcement is the biggest North America restructuring for the U.S. No. 1 carmaker since its bankruptcy a decade ago. Its shares rose 7.6 percent to $38.66.
