ALBAWABA – General Motors, the American multinational automotive manufacturing company, announced the layoff of approximately 1000 employees in the United States to cut electric vehicle losses, targeting savings of $2–$4 billion by 2025.
General Motors lays off employees
General Motors announced the layoff of 1000 of its workers globally, with the majority based in the United States, according to Reuters.
“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,” the company announced in an official statement.
The company stated that this decision is part of its efforts to cut losses between $2 billion and $4 billion by 2024, as it works to regain its position in the electric vehicle market.
General Motors lays off 1000 employees to target savings of $2–$4 billion by 2025. (Shutterstock)
It is worth noting that General Motors laid off 1000 employees in its software division last August and 1700 workers at a Kansas plant in September.
Kevin Kelly, GM spokesperson, said in an email statement: “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.”
