News on Medial

General Motors layoffs: Automaker cuts nearly 1,000 jobs worldwide to lower costs

Livemint · 9m ago

Medial

General Motors (GM) is cutting around 1,000 jobs globally to reduce costs and improve competitiveness in the automotive market. The layoffs primarily affect white-collar workers, with the company stating that the move is aimed at optimizing speed and excellence. GM, like other automakers, is navigating the transition to electric vehicles while maintaining investment in gas-powered models. Through September, US new EV sales have increased by 7.2%, though growth has slowed compared to previous years. The company had 76,000 white-collar employees worldwide at the end of 2020 and aims to cut $2 billion in fixed costs by the end of this year.