General Motors to lay off about 1,000 workers worldwide

General Motors has decided to lay off about 1,000 workers worldwide, most of them in the United States, as part of its efforts to streamline operations. The company confirmed in a statement that it has reduced jobs.

The Detroit-based company said, “To win in this competitive market, we need to improve speed and excellence. As part of this ongoing effort, we have reduced a small number of work teams.”

The company is targeting $2 billion in fixed cost cuts this year as it deals with slowing US sales, deteriorating business in China and a shift in its “comprehensive” electric vehicle strategy amid slower-than-expected consumer adoption, according to CNBC.

The layoffs come as the automaker tries to regain its position as a company specializing in electric vehicles and software, both of which are expensive. General Motors aims to reduce its losses in the electric vehicle field by between $2 billion and $4 billion next year.

The company laid off more than 1,000 employees in August in the software division, where it worked to streamline the team. GM also laid off about 1,700 workers at a Kansas plant in September. One of its biggest job cuts came in 2023, when it gave about 5,000 workers severance packages to leave the company.