Autoworkers strike cuts into GM earnings, company sees further loses if walkouts linger

By TOM KRISHER
AP Auto Writer

DETROIT (AP) — A strike by autoworkers against General Motors is expected to cut the automaker’s pretax earnings by $800 million this year, and another $200 million per week after that. That’s according to the company’s chief financial officer. And those figures just include factories that are on strike now by the United Auto Workers union. So if more plants are added, the losses will pile up further, CFO Paul Jacobson told reporters. His statements came as GM reported Tuesday just over $3 billion in net income from July through September, a figure that was 7% below a year ago due to lost production from the strike and increased warranty costs. But the results soundly beat Wall Street estimates.