The layoffs will primarily affect U.S.-based, white collar workers.
General Motors has announced plans to lay off approximately 1,000 employees worldwide as part of a plan to reduce fixed costs by $2 billion by the end of 2024.The cuts will primarily impacting white-collar workers in the United States.The layoffs, communicated to affected employees on Friday, include positions across various departments, with a significant concentration at the company's technical center in Warren, Michigan.
GM's Investment in EV's and European ExpansionEV adoption in the U.S. market is growing slower than expected, with electric vehicle sales rising just 7.2 percent year-to-date through September, according to Motorintelligence.com.EV sales are poised to exceed last year's record of 1.19 million units sold.In recent years, GM has invested heavily in its EV lineup, battery plants, and related infrastructure to remain competitive.
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