General Motors lays off about 1,000 workers, cutting costs to compete in a crowded automobile market

DETROIT — 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.Asking Eric: They say my teen committed to making 8 elaborate cakes.

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General Motors lays off about 1,000 workers, cutting costs to compete in a crowded automobile marketGeneral Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.
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General Motors lays off about 1,000 workers, cutting costs to compete in a crowded automobile marketGeneral Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.
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General Motors lays off about 1,000 workers, cutting costs to compete in a crowded automobile marketGeneral Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market. The workers are mostly salaried but some blue-collar workers were affected. They were told of the moves early Friday. The company confirmed the layoffs in a statement but gave few details.
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Earnings playbook: More than 100 companies are slated to report this week, including General MotorsMore than 100 S&P 500 companies are slated to post third-quarter earnings. Among them are Tesla, General Motors and Boeing.
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