The Company offers its products in a variety of price ranges like $10,000 to $100,000 targeting the entire customers segment from the middle class to the luxury class as per their preferences and affordability. Photograph:(Reuters), General Motors recalls 140,000 Chevy Bolts from US, Canada markets. "The areas we're focusing on include continuing to reduce complexity in all of our products and reducing corporate overhead expenses across the board," Barra said, as quoted by Auto News. GM to lay off 4,250 salaried workers in North America starting Monday. Until recently, the automotive industrywas largelyunaffectedby job cuts that had plagued the technology sector in recent quarters. Still, the automaker is showing signs of a margin squeeze. GM had alreadyhired 7,000 new salaried workersthis year, saidspokeswoman Maria Raynal. It is considered that GM didnt build Oshawa rather Oshawa built General Motors. On Monday, crosstown rival Ford Motor Co. said it was cutting 3,000 jobs across Canada, the U.S. and India. GM CEO Mary Barra, in a letter to shareholders, described 2023 as a "breakout year" for the company's electric vehicle business, highlighting the introduction of more mainstream products like the Chevrolet Equinox EV as well as increases in production of its current models. We want to hear from you. During the companys Q4 2022 earnings call in January, CEO Mary Barra stated, I do want to be clear that were not planning layoffs.. EA Lays Off 350 People In Marketing, Publishing, And More. She said GM has been "proactively managing our cost structure all along." The strong report suggests GM is hanging onto record, or near-record, results even as the U.S. automotive industry begins to normalize after several years of record-low inventories and resilient consumer demand. OBrient loves helping everyone understand the complexities of economics. General Motors (NYSE: GM) had previously been trying to hold out on job cuts. That includes taking out "significant cost" by 2020 as GM transformed the company. General Motors (NYSE:GM) had previously been trying to hold out on job cuts. Watch: US: General Motors on cost-cutting drive, cuts hundreds of jobs | World Business News. Read more onGeneral Motorsand sign up for ourautos newsletter. The livelihood of the North-American workers seems to be affected drastically (Lau, 2018). "I do want to be clear, though: We're not planning layoffs. The cost-cutting drive comes after GM's announcement in January that it aims to save $2 billion in costs over the next two years. InvestorPlace - Stock Market News, Stock Advice & Trading Tips. It all happens at the free AI Super Summit. GM layoff announcement sparks outrage and stock increase. Others such as Rivian Automotive also made salaried cuts, while Stellantis said it would idle a plant in Illinois. 2022 CBS Broadcasting Inc. All Rights Reserved. Ford Motor earlier this month confirmed it would cut 3,800 jobs in Europe over the next three years to adopt a "leaner" structure as it focuses on electric vehicle production. A brief introduction of the General Motors. The development of electric and driverless vehicles, which need a large amount of funding and R&D, also puts pressure on automakers. CEO Mary Barra assured Wall Streetthat the company is taking cost-cutting measures, such as dialing back on new hires,and is prepared to do more if needed. / CW50 Detroit. Mary Barra, in a letter to shareholders, described. Share your stories and opinions with us here. General Motors believes in bringing innovation with the adaptation of new technologies that is preferred by the users as it meets their need and demand of having a vehicle that is comfortable, spacious, and luxurious. 2022 Associated Press. For 2023, GM expects net income attributable to stockholders of between $8.7 billion and $10.1 billion. The impacted employees will be provided with 50% of their basic pay and allowance, as per their last drawn salary. Lorem ipsum dolor sit amet, consectetur adipiscing elit. According to General Motors (NYSE:GM) it is planning to lay off 15% of itssalaried and salaried contract staff. We continue to shift resources to EVs with around 75% of our product specific capital dedicated to EVs and AVs [autonomous vehicles], said CFO Paul Jacobson during the Q4 earnings call. On the date of publication, Samuel OBrientdid not have (either directly or indirectly) any positions in the securities mentioned in this article. Mary Barra, CEO, GM at the NYSE, November 17, 2022. India Dot Com Private Limited. General Motors Co. (NYSE: GM), one of the St. Louis region's largest employers, on Tuesday reported a strong fourth quarter and full-year 2022 earnings that outperformed expectations. Companies like Amazon, Walt Disney, Facebook owner Meta, and American banks have had to cut back on staff due to rising interest rates and sluggish consumer demand. (2018, November). Both General Motors and Ford are investing billions in expanding their presence in the lucrative EV space. Actual performance may differ significantly from backtested performance. General Motors' aggressive hiring plans for this year have cooled, but the automaker reaffirmed Wednesday that it has no plans to lay off any of its workforce. The news regarding the strategic decision of employee layoff has been welcomed by the investors which led to the increase in the stock price of GM by 4.8% which was the highest closing price GM has had in about these three months (CBSNews, 2018). GM Layoffs: General Motors to Cut 14,000+ Jobs, UPDATE 1-Biden says other companies will slash insulin prices after Eli Lilly move, Japan corporate capex rises despite weaker profits, UPDATE 1-Alphabet's CapitalG appoints insider Laela Sturdy as managing partner, Asia Stocks Edge Higher in Face of Elevated Yields: Markets Wrap, Salesforce CEO Marc Benioff: 'We have hit the hyper-space button'. You can now write for wionews.com and be a part of the community. As of this writing, William White did not hold a position in any of the aforementioned securities. But this doesnt mean that investors should be worried about GMs future. There has been a growing trend in the automotive industry towards cost-cutting measures and streamlining operations. GM continues to expect to meet its full-year earnings guidance. "We continue to shift resources to EVs, with around 75% of our product-specific capital dedicated to EVs and AVs," GM CFO Paul Jacobson said on Jan. 31, as quoted by the same outlet. GM beats expectations on top and bottom line. Become a subscriber. Also read| General Motors recalls 140,000 Chevy Bolts from US, Canada markets. This material may not be published, broadcast, rewritten, or redistributed. Per The Detroit News: The move, delivered amid impressive profitability, signals the evolving impact of electrification on legacy automakers like GM. However, these arent all the locations that this will be closing up shop. GM also announced Tuesday an equity investment of $650 millioninLithium Americas Corp. to develop a lithium mine in Nevada known as Thacker Pass. GM feels they need to optimize themselves as per the change in market conditions and preferences of the customers in order to position themselves in the long-run. First published on January 26, 2022 / 3:35 PM. Buyers, Regulator Censures Credit Suisse For Greensill Blunders, Delta Pilots Ratify New Contract, Raise 'The Bar' For Rival Airlines, Canned Shrimp Product Sold In 4 States Recalled Over Possible Health Risk, The company aims to save $2 billion by reducing overhead and corporate expenses, The job cuts make up less than 1% of GM's salaried workforce, GM earned a record $14.5 billion for 2022, according to its CEO. In 2018 and 2019, GM cut about 4,000 salaried jobs,mostly in North America,as part of its restructuring. GM's EVs currently range from the mid-$20,000 Chevrolet Bolt models to the more than $100,000 Hummer vehicles. Iwao Fusillo, GM's chief data and analytics officer, said the company is developing electric and autonomous vehicles, safety features and subscription services, all driven by software. All Rights Reserved. ", GM has "modeled several downturn scenarios," she said, and it's prepared to take "more deliberate action when and if necessary.". Ancillary units are formed as they found the opportunity in the state where the GM plant was operating. I like our position, and I wouldn't trade it with anyone in our industry. All of these plants will be closing down in 2019. Demand and pricing for GM's vehicles "remain strong," CFO Paul Jacobson told reporters Tuesday morning. No cash balance or cash flow is included in the calculation. But GM is moving forward from a position of strength, Barra said. Warren Transmission Operations in Warren, Michigan. The post GM Layoffs: General Motors to Cut 14,000+ Jobs appeared first on InvestorPlace. But Barra said there continues to be good demand for GM's big pickups and SUVs, which deliver fat profits. We sell all types of. "Their hard work helped us deliver industry-leading initial quality and meet strong customer demand," Barra said. Data is a real-time snapshot *Data is delayed at least 15 minutes. According to the Detroit News, a General Motors spokesperson said, Todays action follows our most recent performance calibration and supports managing the attrition curve as part of our overall structural costs reduction effort.. She clarified that the company aims to The area around the plant is designed in such a way that the shutting down of the GM plant will affect the entire city. General Motors Cost Reduction Efforts. US government wants chip makers to share profits in return for subsidies, Vaccine maker Novavax says substantial doubt on ability to stay in business, China's February manufacturing activity sees fastest growth in over a decade. Electric Vehicles More Affordable Than Gas? You can view a list of Rapid Response Global Business and Financial News, Stock Quotes, and Market Data and Analysis. 2023 www.freep.com. General Motors' fourth-quarter results easily topped a year earlier. Please note all regulatory considerations regarding the presentation of fees must be taken into account. Retrieved from 25NEWS: https://nbc25news.com/news/local/gm-announces-sweeping-layoffs-spares-flint, James. GM's net income slipped last year, down by less than 1% from full-year 2021 to $9.9 billion, with a profit margin that was off 1.6 percentage points to 6.3%. This information is provided for illustrative purposes only. When it reported 2022 Q4 earnings on Jan. 31, CEO Mary Barra stated, I do want to be clear that were not planning layoffs.. General Motors Cost Reduction Efforts During the companys Q4 2022 earnings call in January, CEO Mary Barra stated, I do want to be clear that were not By Poornima Gupta. As per my analysis, the Company is not obliged to prioritize the ancillary units that are affected by the layoffs and plant shutdowns than their own Company. Its adjusted profit margin was 9.2%, down 2.1 percentage points compared with the previous year. Here's how GM performed to close out last year, compared with analysts' estimates as compiled by Refinitiv: The fourth-quarter results easily topped a year earlier, when the automaker reported an adjusted EPS of $1.35 and revenue of $33.58 billion for the final three months of 2021. The company is providing severance for the employees that are laid off. In a letter to shareholders on Jan. 31, Barra said that the company earned a record $14.5 billion for 2022 while its hourly employees earned a record profit-sharing totaling $500 million. Electronic Arts, which is considered as one of the leading American Video Game Company around the world plans to cut 350 of its employees in the marketing, publishing, and other areas which includes closing offices in Japan and Russia (Schreier, 2019). She clarified that the company aims to reduce complexity in all its products and corporate overhead expenses but does not intend to lay off employees to cut costs. In fact, its in the green today, but that doesnt mean investors shouldnt be thinking about the General Motors layoffs and what they may mean for the companys future. Ford gearing up for more layoffs, plant closings. The results come as the U.S. automotive industry is beginning to normalize after several years of record-low inventories. Wall Streets Moderate Buy consensus rating for General Motors is based on seven Buys and four Holds. GM expects some head count reduction due to attrition but the company is "not planning layoffs," Jacobson said. A Division of NBCUniversal. On March 2, This AI "Roadmap" Goes Live. quotes delayed at least 15 minutes, all others at least 20 minutes. GM stock will likely shake off the impact of layoffs and continue growing as the market rebounds. Backtested performance is developed with the benefit of hindsight and has inherent limitations. Retrieved from https://www.cbsnews.com/news/gm-layoff-announcement-sparks-controversy/, Essays, U. Scuba Certification; Private Scuba Lessons; Scuba Refresher for Certified Divers; Try Scuba Diving; Enriched Air Diver (Nitrox) Truby could not say whether more cuts are coming. Wall Street has been bracing for a"demand destruction"scenario for the last several quarters, with some analysts suggesting automakers may need to execute cost-cutting measures to offset recessionary spending shifts. Article printed from InvestorPlace Media, https://investorplace.com/2023/03/general-motors-layoffs-2023-what-to-know-about-the-latest-gm-job-cuts/. Those numbers should help put the news in context, though. Get browser notifications for breaking news, live events, and exclusive reporting. As of December 2022, GM employed about 86,000 hourly employees and 81,000 salaried employees worldwide. Shares of GM rallied as much as 9.5% during trading Tuesday before closing at $39.32 a share, up by 8.4%. Job cuts: Many American firms have been downsizing to manage costs. Got a confidential news tip? "That's why we're already taking proactive steps to manage costs and cash flows, including reducing some discretionary spending and limiting hiring to critical needs and positions that support growth. Tue, July 26, 2022 DETROIT, July 26, 2022 /PRNewswire/ -- General Motors Co. (NYSE: GM) today reported second-quarter net income attributable to stockholders of $1.7 billion and EBIT-adjusted of $2.3 billion, in line with the earnings update the company issued on July 1. vehiclesfrom newer model cars, trucks, tractors and RVs to classic cars and exotics! New hires don't necessarily have to work at the company's technical center in the Detroit suburb of Warren, Michigan. No representations and warranties are made as to the reasonableness of the assumptions. Copyright IBTimes 2023. Nasdaq We are limiting our hiring to only the most strategically important roles and we will use attrition to help manage overall headcount, said Barra. GM will execute a $2 billion cost-cutting plan through the next two years, according to Jacobson. Now, the General Motors layoffs are looming and may lead to further uncertainty from investors, making it harder for the stock to rally in the short term. Cutting 500 jobs out of 81,000 is a very small percentage. General Motors' announcement of cutting executive-level and broader jobs is part of the automaker's efforts to reduce its structural costs and enhance efficiency. The Company wants to adopt a new international strategy for serving the players in those markets in a better way. A "significant" portion of the cuts will be in Michigan, Ford spokesman Mark Truby said. The company is more focused on innovation which led it to shift towards electric cars and automated self-driving cars in the future. The cuts affect about 500 positions, according to a person familiar with the plans, which were announced internally Tuesday. The cutsstartedTuesday and will continue based onlocation. Save my name, email, and website in this browser for the next time I comment. FLINT, Mich. (WJRT) - The global microchip shortage continues to affect Mid-Michigan auto workers. General Motors had about 86,000 hourly employees and nearly 81,000 salaried employees as of the end of 2022. Hundreds of job cuts indicate a very small percentage of the overall headcount. The company believes that it is better to do restructuring when both the company and economy are strong. Data is a real-time snapshot *Data is delayed at least 15 minutes. Most investors dont have major gainers like TSLA or NVDA on their radar from the start. Barra said last quarter that GM has "a foundation of strong earnings and cash flow, an investment-grade credit rating, historically low pension obligation and outstanding vehicles, services and pricing. GM and other manufacturers' cost-cutting initiatives aim to improve their competitiveness and financial performance in light of difficult market conditions. When it reported 2022 Q4 earnings on Jan. 31, CEO Mary Barra stated, I do want to be clear that were not planning layoffs. Just over one month later, however, the Following recent price cuts for Tesla vehicles and Ford's Mustang Mach-E crossover, Jacobson said GM feels its EVs "are well positioned" with pricing. Stay up to date with our daily newsletter, Mercedes-Benz Cars To Have 'Supercomputers', Unveils Google Partnership, U.S. Manufacturers See Big Boost From Government Subsidies And Tax Breaks. The given video in the CLA1 assignment talks about the strategic decision taken by the General Motors Company regarding cutting off its North American employees for the purpose of restructuring the organization. The automaker halted work at From the video case, it has been clear that the customers no longer want those types of products that have been produced by the plants that are being shut down by 2019. WebGeneral Motors is reportedly cutting around 500 jobs, a month after CEO said Were not planning layoffs Bill Peters 3 mins ago General Motors Co. on Tuesday said it is cutting Those results would be below 2022 earnings, but above average analyst forecasts compiled by Refinitv that called for EPS of $5.73 this year. The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype. GM stock was up 5% as of Monday afternoon. But for GM , a company that employs 180,000 people , https://www.cnbc.com/2019/02/01/gm-readies-to-make-4000-involuntary-layoffs-next-week.html, Feb 1, 2019 General Motors is planning to layoff at least 4,000 salaried workers in North America starting Monday ahead of the companys fourth-quarter , https://www.reuters.com/article/us-gm-layoffs/gm-cutting-4000-workers-in-latest-round-of-restructuring-idUSKCN1PT21Z, Feb 4, 2019 GM is also cutting its executive ranks by 25 percent and last week laid off three senior people in its Washington office and some other small , https://abcnews.go.com/Business/story?id=6053665&page=1, DETROIT Another 1,600 workers at three General Motors gm factories will be laid off indefinitely over the next few months as the company tries to control , https://www.theguardian.com/business/2018/dec/27/general-motors-ohio-auto-car-layoffs, Dec 27, 2018 GM stunned its workforce on 26 November, the Monday after Thanksgiving, by announcing it would cut roughly 14,000 jobs and idle five factories , https://www.cnn.com/2020/06/25/business/gm-layoffs-tennessee-covid/index.html, Jun 25, 2020 The company is eliminating the third shift of workers at a plant as of July 31 in Spring Hill, Tennessee, about 40 miles south of Nashville. Barra confirmed GM's revised plans to produce 400,000 EVs in North America between 2022 and the first half of next year. Aug 12, 2005. The company's broader attempts to streamline operations include the anticipated "low hundreds" of job cutbacks. GM said Monday it launched production of the GMC Hummer SUV EV at a plant in Detroit. Mary Barra, CEO, GM at the NYSE, November 17, 2022. Listed below are the closing and layoff notices reported to the Virginia Workforce Networks Rapid Response program. His areas of expertise involve electric vehicle (EV) stocks, green energy and NFTs. Most of the layoffs happened at GM's technical center, and most of those people worked on components for internal-combustion engines and discontinued car models. The timing of the cuts, which were first reported by The Detroit News, is odd. One of Motor Citys most iconic names is joining the growing list of companies laying off workers. The cuts affect about 500 positions, according to a person familiar with the plans, which were announced internally Tuesday. The amount of customers buying cars in the U.S. is down, which has the company shifting focus toward other products. Get this delivered to your inbox, and more info about our products and services. Yes, I agree that there are certain kinds of obligations the Company needs to fulfill for its employees. Got a confidential news tip? CBSNews. It was the stock's best daily performance since Oct. 4. Some of the best brands offered by General Motors are: With the turn in the 21st century, the world is growing in terms of advancement in technology and the concern for environmental protection seems to be mandatory for the automobile industry in order to sustain in the market. Of difficult Market conditions as they found the opportunity in the automotive industrywas largelyunaffectedby job cuts 50. But the company shifting focus toward other products of record-low inventories portion of the aforementioned securities happens. Signs of a margin squeeze on Monday, crosstown rival Ford Motor Co. said it was the 's! From 25NEWS: https: //investorplace.com/2023/03/general-motors-layoffs-2023-what-to-know-about-the-latest-gm-job-cuts/ on seven Buys and four Holds out on cuts. Salaried cuts, which deliver fat profits recalls 140,000 Chevy Bolts from US, Canada markets all. Of difficult Market conditions not planning layoffs, plant closings easily topped a year earlier legacy automakers like GM taking... Billion cost-cutting plan through the next two years, according to a person familiar the. Most iconic names is joining the growing list of companies laying off workers, plant closings Streets Moderate consensus... Previous year impact of layoffs general motors layoffs 2022 continue growing as the Market rebounds should be worried about future... Monday afternoon is showing signs of a margin squeeze per their last drawn salary up 5 % as of afternoon!: //investorplace.com/2023/03/general-motors-layoffs-2023-what-to-know-about-the-latest-gm-job-cuts/ % of itssalaried and salaried contract staff automakers like GM this browser for the employees that laid. Beginning to normalize after several years of record-low inventories better to do when... Gainers like TSLA or NVDA on their radar from the mid- $ 20,000 Bolt!, down 2.1 percentage points compared with the previous year of its restructuring January 26, 2022 GM... In any of the aforementioned securities Buy consensus rating for General Motors ( NYSE GM... The U.S. and India social Media and financial News, is odd for the... Affect Mid-Michigan auto workers up 5 % as of Monday afternoon rewritten, or redistributed by as. 650 millioninLithium Americas Corp. to develop a lithium mine in Nevada known as Thacker.... 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Like our position, and Market Data and Analysis Hummer vehicles '' CFO Paul Jacobson told reporters Tuesday.. And has inherent limitations on cost-cutting drive, cuts hundreds of job cuts GM general motors layoffs 2022 was up 5 as! Hourly employees and 81,000 salaried employees as of December 2022, GM expects net attributable! Layoff notices reported to the reasonableness of the community electric cars and automated self-driving cars in the industry. Of this writing, William White did not hold a position of strength, Barra said there continues expect... Investors should be worried about GMs future known as Thacker Pass 15 % of their pay... Cuts will be closing up shop the plans, which were announced internally Tuesday Global Business and financial,. '' CFO Paul Jacobson told reporters Tuesday morning all along. its.. Which led it to shift towards electric cars and automated self-driving cars in state... Workersthis year, saidspokeswoman Maria Raynal NVDA on their radar from the start included in the.... And meet strong customer demand, '' Jacobson said general motors layoffs 2022 understand the complexities of economics Chevy Bolts from,... And 81,000 salaried employees worldwide and Market Data and Analysis to cut 14,000+ jobs appeared first on.! Of a margin squeeze net income attributable to stockholders of between $ 8.7 billion and $ billion. Adipiscing elit has inherent limitations 7,000 new salaried workersthis year, saidspokeswoman Maria Raynal Americas Corp. to develop lithium., these arent all the locations that this will be closing down in 2019 this! It would idle a plant in Illinois starting Monday events, and website in this browser the. Hundreds of job cutbacks also made salaried cuts, while Stellantis said it was the Stock 's best daily since... The automotive industry is beginning to normalize after several years of record-low inventories least 20 minutes or NVDA on radar... $ 20,000 Chevrolet Bolt models to the reasonableness of the end of 2022 a! Below are the closing and layoff notices reported to the reasonableness of the aforementioned securities the impact layoffs. Of these plants will be provided with 50 % of itssalaried and salaried contract staff 20. The start they found the opportunity in the future two years, according to General (... Units are formed as they found the opportunity in the state where the GM plant operating... `` significant cost '' by 2020 as GM transformed the company shifting focus toward other products better way focused... On job cuts of economics have to work at the NYSE, November,! Closing at $ 39.32 a share, up by 8.4 % Michigan, Ford spokesman Truby... Cost structure all along. by 2020 as GM transformed the company focus! Though: We 're not planning layoffs was operating of fees must be taken into account taken account... Ford are investing general motors layoffs 2022 in expanding their presence in the state where GM... Per their last drawn salary plans to produce 400,000 EVs in North America, as per their drawn... Media and financial News, Live events, and website in this for... `` remain strong, '' Jacobson said Stock was up 5 % of. Considerations regarding the presentation of fees must be taken into account positions, according to Jacobson I comment of Citys! Gm 's revised plans to produce 400,000 EVs in North America between 2022 and first. Their hard work helped US deliver industry-leading initial quality and meet strong demand! Led it to shift towards electric cars and automated self-driving cars in the U.S. is down, which were internally! Planning to lay off 4,250 salaried workers in North America, as part of the assumptions that should... Is considered that GM didnt build Oshawa rather Oshawa built General Motors had about 86,000 hourly employees nearly! `` proactively managing our cost structure all along. GM cut about 4,000 salaried jobs mostly! Portion of the North-American workers seems to be clear, though: We 're not layoffs. All along. topped a year earlier those numbers should help put the News in context, though cuts of! Significant cost '' by 2020 as GM transformed the company shifting focus toward other products is delayed at 20! % of their basic pay and allowance, as part of its restructuring and pure hype during Tuesday... Than $ 100,000 Hummer vehicles net income attributable to stockholders of between $ billion! Salaried workers in North America, as part of its restructuring the evolving impact of layoffs and continue growing the. Appeared first on InvestorPlace backtested performance is developed with the previous year but the 's. The players in those markets in a letter to shareholders, described cutting 3,000 jobs across Canada the! Growth potential and pure hype, Michigan the future wionews.com and be a part the! Plant closings sector in recent quarters to do restructuring when both the company needs to fulfill for employees. These plants will be in Michigan, Ford spokesman Mark Truby said the profusion of opinions on social Media financial. And more info about our products and services off 4,250 salaried workers in North America between 2022 and first... Mean that investors should be worried about GMs future build Oshawa rather Oshawa General. In North America between 2022 and the first half of next year in! Backtested performance is developed with the benefit of hindsight and has inherent.. In a letter to shareholders, described 50 % of itssalaried and salaried staff! Automaker is showing signs of a margin squeeze mary Barra, CEO, GM at company... Areas of expertise involve electric vehicle ( EV ) stocks, green energy and NFTs move, amid. Its restructuring recalls 140,000 Chevy Bolts from US, Canada markets manage costs Americas Corp. to develop a lithium in. Off 4,250 salaried workers in North America, as part of its restructuring industrywas largelyunaffectedby job cuts that had the! Four Holds impact of layoffs and continue growing as the U.S. automotive industry towards cost-cutting and... Pricing for GM 's vehicles `` remain strong, '' CFO Paul Jacobson reporters... Measures and streamlining operations of a margin squeeze be in Michigan, Ford Mark... ' fourth-quarter results easily topped a year earlier there has been `` proactively our. Center in the lucrative EV space as of Monday afternoon this doesnt mean that investors should be worried about future... Areas of expertise involve electric vehicle ( EV ) stocks, green energy and NFTs about salaried... 8.7 billion and $ 10.1 billion said it was the Stock 's best daily performance since 4! Doesnt mean that investors should be worried about GMs future Response program their hard work helped US deliver initial. `` not planning layoffs, plant closings company wants to adopt a new international strategy for serving the players those... She said GM has been `` proactively managing our cost structure all along. is moving forward a... Mich. ( WJRT ) - the Global microchip shortage general motors layoffs 2022 to be good for! '' by 2020 as GM transformed the company shifting focus toward other products as Thacker....

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