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 stagnant market for traditional gas-powered sedans, shifting more investment to electric and autonomous vehicles.
The announcement is the biggest restructuring in North America for the United States’s No. 1 carmaker since its bankruptcy a decade ago. Its shares rallied 7.6 percent to $38.66.
