Shares of General Motors Co. GM, -0.37% rose more than 4% Monday after the car maker announced cost-cutting measures that include trimming its vehicle line-up in the U.S. and closing U.S. and overseas plants, which will trigger layoffs. "The actions we are taking today continue our transformation to be highly agile, resilient and profitable, while giving us the flexibility to invest in the future," GM Chief Executive Mary Barra said in a statement. GM said the moves are expected to increase its free cash flow from autos by $6 billion by 2020, including cost reductions around $4.5 billion and lower capital spending. More resources will be allocated to electric and autonomous vehicles. More than 75% of GM's global sales volume will come from five vehicle architectures by early next decade, the company said. GM will cut salaried and salaried contract staff by 15%. The stock was briefly halted ahead of the announcement.