General Motors is laying off about 1,000 workers around the world and cutting costs as it tries to compete in a crowded global auto market.
The workers, most of whom are white-collar, were notified of the decisions as the company confirmed the layoffs in a statement but gave few details.
“We need to optimize for speed and excellence and this includes working efficiently, ensuring we have the right team structure and focusing on our top priorities,” the statement said.
GM and other automakers have been navigating an uncertain transition to electric vehicles both in the U.S. and around the world, trying to figure out where to invest capital and how quickly the transition can happen.
The company had to develop and modernize gas-powered models while investing in battery and electric vehicle assembly plants as well as metals and other parts for the next generation of electric vehicles.
Sales of new electric cars in the United States rose by 7.2% through September, reaching about 936,000 cars, and this is slower growth than the 47% increase in 2023.
But electric car sales this year are likely to exceed last year’s record of 1.19 million cars, and the share of electric cars in new car sales this year is 7.9%, up from 7.6% last year.
