General Motors on Tuesday said it will make $2 billion in cost cuts over the next two years, partly by reducing the size of its work force, though it’s not planning any layoffs.
It announced the plan after posting fourth-quarter net income of $2 billion — a 15 percent increase, and a record pretax profit for the year as vehicle sales and supply constraints improved.
https://www.autonews.com/earnings-reports/gm-plans-2b-cost-cuts-after-record-2022-earnings
2025 Goals
All renewable energy at all facilities
100% virtual testing
2 billion in cost savings......
So how does the MPG survive all that? As a GM facility I mean
Actually, no. The "big 3" has been cutting their sedan/hatchback portfolio for years.
The Impala and Cruze sold very well and they were cut years ago too.
Emphasis is on SUVs and CUVs until the big rollout of EVs.
Doesn't the fact they cut Sonic and Spark just prove the Chinese person's point?
@kayi+1kXlwsBl
Chinese troll doesn’t know that the Spark and Sonic have been out of production for some time. Embarrassing.
GM products have slowly progressed into a pile of junk! Nobody wants Sparks and Sonics. Beaten out by competition at every turn. Need to dispose of the management and engineers who are pushing this trash.
No need for layoffs. There will be another salary exodus just prior to Sept 1, 2023 per the lump sum pension recalculation on that date.
GM had record profits in 2019 before the big layoffs.
Layoffs don't seem to be connected to financial results.
you losers DO deserve to be laid off and YOU WILL BE
I don't see anybody frothing at the mouth for layoffs on this thread. Some people warn that there still could be some but what do you expect, this is a layoff board.
With that said the question about contract employees is a good one. Can GM just end the contract since that wouldn't technically be a layoff?
So many people here frothing at the mouth for layoffs. so funny.
Maybe part of the $2B is from battery factory they are no longer building. They need some way to frame the failure as a win.
I’m 100% sure GM really will not fire people after 40 year boomers refuse buyout offers. LMAO
PS Most of the 65,000 tech workers recently fired received their termination notices over personal email. Hybrid work arrangements are very efficient. Easy come, easy erased.
Try to work 20hrs every day and to take as much as work you can to avoid to be fired.
What part of GM leaderships message can't you follow. They said no layoffs planned. They also said work appropriately and back peddled on that statement merely months later. Car prices are dropping, and with the softening economy, this year will likely not be a great year for car companies including GM. They will fire people using other methods. MARK MY WORDS.
More woke and more work.
Does getting rid of contractors count as layoffs?
2019 dejavu ha ha ha
You become great by downsizing said no one, ever, anywhere!
Is there going to be less work?