GM to close 5 plants in North American, 2 plants outside North America

GM making big changes

Reports have been circulating all day about GM but they're now making it official.

• 5 plants will close in North America

• 2 plants outside North America to close

• 15% of salaried staff to be cut in North America

• Says the economy is strong, this is about a changing industry

• Will focus investment on self-driving and electric

• Plants are in Ontario, Michigan, Ohio and Maryland

It's tough to take them at their word on the economy and demand. That's a total cut of 14,700 factory and executive jobs.