General Motors To Layoff 500 To Reduce Their Cost Know Details Of It

Layoffs 2023: In view of the recession, the process of layoffs is going on in big companies around the world. Now the name of the legendary automaker General Motors has also been included in this list. The company has decided to lay off hundreds of its employees. According to the report published in Reuters, the company has taken this decision so that it can save maximum by reducing its expenses in this period. Let us tell you that the company had informed about this to all the employees who were laid off on Tuesday itself. At least 500 people (General Motors Layoffs 2023) have lost their jobs after this move.

This step was taken to reduce the company’s expenses

Through this retrenchment, the company hopes that it will be able to save at least $ 2 billion in the next two years. For the employees of General Motors, this retrenchment is no less than a shock because a few days ago, the company’s Chief Executive Officer (CEO) Mary Barra and CFO Paul Jacobson told their investors that the company did not plan any layoffs at present. Has been But on Tuesday, in a letter sent by General Motors Chief Public Rights Arden Hoffman, it was said that the company is committed to saving $ 2 billion over the next two years. In such a situation, we have to take this step to reduce the corporate expenses.

Ford has also announced layoffs

Before General Motors, the big car maker Ford also announced layoffs. The company had told that it would lay off 3,800 people associated with the company in the next 3 years. The company had announced that in countries like Britain, Germany, maximum number of people would be laid off. In such a situation, about 2,300 people will be laid off in this retrenchment, 1,300 in Britain and about 200 in the rest of Europe.

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