FX.co ★ GM To Cut 1,000 Salaried, Hourly Jobs To Reduce Costs : Reports

General Motors Co. (GM) has announced plans to lay off approximately 1,000 salaried and hourly workers across different sectors, predominantly in North America, as reported by multiple media sources. This decision aligns with the automaker's strategy to boost operational efficiency and manage expenses more effectively.

"As we strive to remain competitive, optimizing our speed and ensuring excellence is crucial," GM spokesman Kevin Kelly stated in an email to Bloomberg. "Our efforts include operating efficiently, structuring our team appropriately, and concentrating on our primary business objectives. Consequently, we have made some minor team reductions."

Earlier this year, GM also eliminated around 1,000 software engineering positions globally.

At present, GM's stock is experiencing a decline of 1.04%, trading at $57.02 on the New York Stock Exchange.