General Motors Co. (GM.N) touched its highest intraday price since July on Monday after announcing a plan to cut more than 10,000 salaried staff and factory workers and close five factories by the end of next year.

Shares climbed 5.01 per cent - or US$1.80 - to close Monday at US$37.73, with the reductions marking a sweeping realignment under Chief Executive Officer Mary Barra to prepare for a future with a greater number of purely electric vehicles.

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