News Formal

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

  • 📰 CP24
  • ⏱ Reading Time:
  • 46 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 29%
  • Publisher: 67%

Automotive News

Business,Manufacturing

General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.

The Chevrolet logo is seen at a new and used vehicles dealership in Palatine, Ill., on March 20, 2024.

“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.""We do not have specifics to share; here in Canada, the reductions impacted a small number of our Canadian team,” said Natalie Nankil, director of corporate and internal communications at GM Canada.

Through September, U.S. new EV sales are up 7.2% to about 936,000, according to Motorintelligence.com. That’s slower growth than the 47% increase in 2023. But EV sales this year are likely to surpass last year’s record of 1.19 million, and the EV share of new vehicle sales this year is 7.9%, up from 7.6% last year.

Last April, about 5,000 GM white-collar workers at General Motors took the company’s buyout offers, which the automaker said at the time was enough to avoid layoffs.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 30. in BUSİNESS
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

General Motors lays off about 1,000 workers, cutting costs to compete in a crowded automobile marketDETROIT (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.
Source: SooToday - 🏆 8. / 85 Read more »

General Motors CFO, bond market sell-off: Morning BriefIt's another busy week this earnings season as General Motors (GM) posted a third quarter earnings beat this morning, with Tesla (TSLA) set to release its...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

General Motors earnings: 3 things investors will be watchingAutomotive giant General Motors (GM) is set to release its third quarter earnings results on Tuesday, October 22, before the market opens. Yahoo Finance...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »