General Motors
Estimated Cost: Over $1 billion in 2018
Speaking of major American automakers with plans to lay off a lot of people: General Motors announced its own restructuring plans — including 15,000 layoffs and multiple plant closures — in 2018. And, like Ford, at least part of the problem is the hefty price tag GM is paying in tariffs on steel and aluminum. The company reported that tariffs had cost it $300 million more during the 2018 second quarter than the prior year, putting the 2018 cost at over $1 billion.
