(CNBC) -- General Motors plans to dramatically cut production at a number of plants in the U.S. and Canada next year and reduce its salaried workforce by 15 percent in a massive restructuring that will cost up to $3.8 billion, the company said Monday.
The Detroit automaker said plants in Ohio, Michigan, Maryland, and Ontario, Canada will be "unallocated" in 2019 and it will cease operations at two additional plants outside of North America altogether by the end of next year. It will also wind down operations at two propulsion plants.
The company also said it plans to reduce its executive staff by 25 percent in a reorganization it estimates will save roughly $6 billion by the end of 2020.
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