GM cutting hundreds of jobs to reduce costs
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General Motors (GM) cuts 500 jobs
March 1, 2023 7:31 AM ESTGeneral Motors (NYSE: GM) announced internally on Tuesday that the company will be cutting hundreds of salaried positions as it follows other major companies, including competitors, in downsizing headcounts to preserve cash and boost profits.
The timing of the cuts comes roughly a month after GM CEO Mary Barra and CFO Paul Jacobson told investors that the company was not planning any layoffs.
The cuts, first reported by The Detroit News, could affect around 500 positions across various functions of the company,... More
