Connect with us

Hi, what are you looking for?

Income Innovator HubIncome Innovator Hub

Stock

GM lays off 1,000 employees amid reorganization and cost-cutting

DETROIT — General Motors laid off roughly 1,000 employees on Friday as the automaker attempts to cut costs and realign priorities amid changing market conditions, according to a person familiar with the decision.

The layoffs, which were announced Friday morning to those impacted, were across the business. Some were due to poor performance, while others were part of a review to reorganize priorities by the automaker, according to the person, who agreed to speak about the decision on the condition of anonymity.

A majority of the employees impacted were in suburban Detroit at the automaker’s global technical center in Warren, Michigan, the person said. A small number of hourly employees were included in the layoffs.

A spokesman for GM confirmed the layoffs but declined to disclose the total amount.

“In order to win in this competitive market, we need to optimize for speed and excellence,” GM spokesperson Kevin Kelly said in an emailed statement. “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.” 

Friday’s layoffs follow more than 1,000 salaried employees working in GM’s software and services organization being let go in August.

GM’s global salaried workforce was 76,000 as of the end of last year. That included about 53,000 U.S. salaried employees.

The United Auto Workers union, which represents hourly employees at the automaker, did not immediately respond for comment.

This post appeared first on NBC NEWS

Enter Your Information Below To Receive Latest News, And Articles.

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Editor's Pick

    Source: Ark Invest / Instagram ARK Investment Management, led by prominent investor Cathie Wood, has reduced its holdings in the Grayscale Bitcoin Trust (GBTC)...

    Latest News

    A super PAC that has overseen much of Ron DeSantis’s presidential operation has fired its CEO less than two weeks after the previous chief...

    Latest News

    WINDHAM, N.H. — It’s pouring rain Saturday morning as New Hampshire Gov. Chris Sununu (R) arrives at Mary Ann’s diner in Windham, fielding calls...

    Stock

    Popeyes is expanding its menu beyond chicken sandwiches — and it’s a permanent change this time. The fast-food chain announced Wednesday it’s adding five...

    Disclaimer: Incomeinnovatorhub.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.


    Copyright © 2024 incomeinnovatorhub.com