General Motors lays off about 1,000 workers, cutting costs to compete in a crowded automobile market
DETROIT (AP) — General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.
The workers, mostly white collar, were notified about the decisions early Friday. The company confirmed the layoffs in a statement but gave few details.
“We need to optimize for speed and excellence,” the statement said. “This includes operating with efficiency, ensuring we have the right team structure and focusing on our top priorities.”
GM and other automakers have been navigating an uncertain transition to electric vehicles both in the U.S. and worldwide, trying to figure out where to invest capital and how fast the switch will happen.
The company has had to develop and update gas-powered models while investing in EV battery and assembly plants as well as minerals and other parts for the next generation of electric vehicles.
More Stories
Anthropic could be valued at more than $2trn in record IPO
Anthropic could be valued at more than $2 trillion when it lists on the New York Stock Exchange this autumn,...
FairFuelUK urges government to scrap 2030 petrol and diesel ban
Campaign group FairFuelUK has called on the government to scrap the 2030 ban on sales of new pure petrol and...
The Real Cost of Getting Customs Wrong
Businesses tend to budget for freight, warehousing, and insurance without thinking too hard about customs, right up until a shipment...
Maximizing Art Sales: Pricing Strategies for Visual Artists
Pricing art can feel strangely personal. You can spend ten hours on a piece, love the result, then stare at...
Not a policy, just a ringtone: the UK wildfire alert and net zero policy clash noisier than the Royal Albert Hall’s organ
At seven o’clock on Friday evening, every mobile phone in England and Wales went off at once. Not a ring....
Ralph Fiennes backs £550,000 community bid to buy Suffolk pub
A community campaign to buy the Bell Inn at Middleton in Suffolk has raised £380,000 towards a £550,000 target, with...
