Categories: Cars

GM Lays Off 1,000 Employees Across Divisions

GM employs tens of thousands of people worldwide, but a small number of them woke up to bad news this morning. The automaker laid off around 1,000 people today as part of its efforts to streamline business operations and cut costs.

Though small – this round of layoffs hits less than one percent of GM’s global workforce – will affect employees across the automaker’s operations. The action follows a similar layoff in August, when GM cut more than 1,000 salaried workers.

A spokesperson told Automotive News, “In order to win in this competitive market, we need to optimize for speed and excellence. This includes operating with efficiency, ensuring we have the right team structure, and focusing on our top priorities as a business. As part of this continuous effort, we’ve made a small number of team reductions. We are grateful to those who helped establish a strong foundation that positions GM to lead in the industry moving forward.”

GM wants to cut $2 billion in fixed costs this year. U.S. sales have slowed, and global numbers aren’t looking so hot, either, as Chinese automakers are pounding the market with cheap EVs and other models. The company modified its electrification strategy earlier this year, shifting away from an EV-only roadmap to one that includes more hybrid vehicles to satisfy buyers’ demand for less expensive fuel-efficient vehicles.

[Images: General Motors]

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Source: The Truth About Cars

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