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"I think the timing for that is very important for

June 11, 2017 by Katherine Berry

"I think the timing for that is very important for us," she said during a closed session of the company's board meeting Wednesday, a day after the automaker revealed a $4.9 billion cut in the cost of a new diesel engine in the United States.

The move, Barra said, is "something that we have no idea how to do without."

The company said it had decided to cut the number of jobs at its existing U.S. plant after it was "unable to meet our growth targets" and to cut its workforce of 1,500 workers at the Michigan assembly plant that makes the next-generation Chevy Bolt and the new Ford Focus.

The company did not immediately provide additional details about the latest cut.

The announcement of the cuts comes a week after GM announced a $35 billion plan for a $20 billion investment that would see it invest $100 billion to boost the company's manufacturing workforce.

GM also announced that it plans to invest $4 billion this year in a new line of vehicles, which it plans to sell in 2015 or 2016.