General Motors (GM) will lay off over 1,000 salaried employees. The Detroit-based carmaker is cutting jobs in its software and services division. The company wants to streamline the operations in this division on its tech campus near Detroit and worldwide.
CBNC reported that approximately 600 jobs will be lost by Americans who work in the tech hub near Detroit. Former Apple executive Mike Abbott left the company within a year of joining due to health reasons. Within six months, the division was seeing huge workforce cuts.
GM released a statement to CNBC about the layoffs that noted that the automaker was “reducing certain teams within the Software and Services organization” and more but declined to confirm the number of layoffs.
Sources told CNBC that the number of layoffs could cross 1000, and the layoffs would be salaried employees. This represents about 1.3 percent of the global workforce.
According to press releases on its website, GM has been focusing on an all-electric future. It also says that it uses the best safety services and connected vehicle technology from its subsidiary, One Star, a global leader in its own right.
The US-based automaker is also increasing its purchase of renewable energy. An August 15 release on its site announced a 15-year purchase agreement with NorthStar Clean Energy. This solar power deal will enable the company to use renewable energy in three GM assembly plants.
GM said this was the automaker’s largest renewable energy deal and would help the company reach its carbon-neutral goal by 2040.
CWEB analysts note that GM sells different vehicles nationwide at different price points, which will continue to help automakers see a rise in stock price. They note that GM stock is a Buy or Hold as the company’s forward-looking renewable energy use is bound to increase its share value.
Celebrity WEB Update— Premier Jewelry designer and manufacturer fashion house ParisJewelry.com has started manufacturing a new custom line of celebrity jewelry designs with 30% Off and Free Shipping. Replenish Your Body- Refilter Your Health with OrganicGreek.com Vitamin Bottles, Vitamins, and Herbs. Become a WebFans Creator and Influencer. Check the New Special XMicro Razors for Men & Women, 1 Razor, 7 Blade Refills with German Stainless Steel, Lubricated with Vitamin E for Smooth Shave, Shields Against Irritation, Version X Men|Women
