Automaker General Motors (GM) is reportedly terminating jobs for 1,000 workers as part of the company’s cost-cutting and reorganization efforts.
GM notified the affected employees on Friday, with around half of them previously holding positions at the automaker’s global technical center in Warren, Michigan.
The company confirmed the report in a statement but didn’t disclose the exact number of workers who were laid off. It described the move as “a small number of team reductions.”
“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,” a GM spokesperson stated.
This isn’t the first time that GM has made job cuts in 2024. Back in August, the automaker laid off around 1,000 employees in its software division as it looked to make its operation more efficient. In September, it terminated the contracts of another 1,700 workers at its Fairfax Assembly & Stamping factory in Kansas City.
GM is aiming to cut its costs by $2 billion to $4 billion in 2025 as it tries to speed up the transition to electric vehicles and compete with the likes of Tesla.