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GM's involuntary layoffs start Monday, at least 4,000 workers expected to lose jobs

 
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02/01/2019 03:04 PM
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GM's involuntary layoffs start Monday, at least 4,000 workers expected to lose jobs
[link to www.cnbc.com (secure)]

General Motors is planning to layoff at least 4,000 workers in North America starting Monday ahead of the company's fourth-quarter earnings report, according to two people briefed on the matter.

The reductions come as the largest U.S. automaker undergoes a massive restructuring announced by CEO Mary Barra in November. GM is halting production at five plants in North America and cutting 14,000 jobs as it realigns its workforce and plants to produce more electric vehicles.

The involuntary cuts aren't as steep as previously thought. The Detroit automaker offered buyouts to 17,700 employees in November and many others have been transferred to other plants, executives previously said.

Company executives want to complete as many of the layoffs as possible before the company reports its earnings Wednesday, the people said, asking not to be named because the information isn't public yet.