The GM logo is displayed Jan. 2010 near the General Motors global headquarters in Detroit, Mich. On Friday, GM revealed it laid off around 200 workers in the early morning hours. File Photo by Brian Kersey/UPI | License Photo
Oct. 24 (UPI) — General Motors terminated hundreds of jobs Friday in a cost-saving boost days after GM stock value soared.
More than 200 salaried, largely white-collar jobs got laid off mostly at GM’s technical center in Warren, Mich. The company delivered the message around 7 a.m. EDT via Slack and added jobs cut were not due to performance, but rather “business conditions.”
In a statement, General Motors said it was “restructuring” its design engineering team in order to “strengthen our core architectural design engineering capabilities” from cuts in computer-aided stuff.
“As a result, a number of CAD execution roles have been eliminated,” GM officials told Bloomberg. “We recognize the efforts and accomplishments of the impacted team members, and we thank them for their contributions.”
GM reported better-than-expected third quarter earnings earlier in the week.
It arrived as GM, among other companies, attempt to increase profit margins through streamlining and AI-related efforts as business and the economy reel from inconsistent tax-like tariff policy imposed by U.S. President Donald Trump, and as the administration takes aim at pro-electric vehicle incentives.
Ford and GM were among a long list of U.S. companies to contribute $1 million each along with vehicles to Trump’s second inauguration in January.
On Friday, Trump took to social media and claimed better earnings performance by GM and Ford indicated his tax-like tariff policies were effective, saying the two carmakers were “up big.”
