Workers on their way out include 600 from GM’s tech campus near Detroit
GM is laying off 1,000 salaried staff from its software and services division around the world. Around 600 of the job losses are due to cuts at the automaker’s tech campus near Detroit. The layoffs amount to approximately a 1.3 percent reduction in GM’s total workforce, reports say. GM’s stock price grew in the first half of 2024, but its headcount is moving in the opposite direction. The automaker is laying off around 1,000 salaried employees globally as it tries to cut costs.
” Based on the layoff figures its sources allege, CNBC estimates that the job cuts amount to a 1.3 percent reduction in GM’s global workforce of 76,000. Of that total, 53,000 are based in the US. GM told Reuters that the job cuts were not about reducing costs, but came about as the result of an operational review following the departure of software and services VP Mike Abbott, who left the company due to ill health earlier this year.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Intel is laying off over 10,000 employees and will cut $10 billion in costsIntel’s on a long, long road to recovery, and over 10,000 workers will no longer be coming along for the ride. The chipmaker just announced it’s downsizing its workforce by 15 percent, as part of a new $10 billion cost savings plan.
Read more »
Tampa Bay Times Offers Employees Severance Packages to Cut Payroll 20%Source of breaking news and analysis, insightful commentary and original reporting, curated and written specifically for the new generation of independent and conservative thinkers.
Read more »
Fed unlikely to cut rates next week, but may send clear signal on September cutFed unlikely to cut rates next week, but may send clear signal on September cut
Read more »
Fed unlikely to cut rates next week, but may send clear signal on September cutFed unlikely to cut rates next week, but may send clear signal on September cut
Read more »
'Rate cut winners': Barclays names global stocks to buy when interest rates are cutThe investment bank also named two sectors that are likely to behave in a contrarian manner.
Read more »
Apple has reached its first-ever union contract with store employees in MarylandApple has reached a tentative collective bargaining contract with the first unionized company store in the country. The International Association of Machinists and Aerospace Workers’ Coalition of Organized Retail Employees announced Friday evening that it struck a three-year deal with the company on behalf of workers at a Maryland store.
Read more »