write down

The company said the write-down was related to plans to reduce the number of clinics that Oak Street plans to open over the coming years.

The write-down overshadowed gradual improvements in other business lines.

Last week, the company announced a $1.6-billion write-down related to EV production plans, then it said it would stop making electric-delivery vans, which will lead to another charge.

GM recently took $1.6 billion in write-downs related to EV assets, a sign it doesn’t see the technology spreading in the U.S. as fast as it once did.

There is no write-down or redundancy risk from the decision, the spokesperson added.