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General Motors, known as GM, announced last week that it would carry out a massive layoff at its engineering center in Detroit.
As part of its efforts to reduce costs and increase its investments in electric, autonomous and connected mobility technologies. Although the spokeswoman for the North American automaker did not inform the exact number of professionals laid off during the past weekend, it is known that hundreds of engineers, designers and other salaried workers will be affected by the cuts.
The product development group of GM, where the cuts took place, is responsible for employing thousands of professionals who work on the development of vehicle models. The layoff follows last month's announcement that about 5 salaried workers in the United States, including executives in global roles, had agreed to a voluntary dissolution, and in March of this year the Detroit automaker had cut more than 500 salaried employees.
The cost reduction is part of GM's larger plan to become a technology company that designs, manufactures and sells self-driving electric vehicles.
GM is focusing its investments in electric mobility technologies, autonomous and connected to reduce spending in less strategic areas. The mass dismissal takes place amidst a scenario of increased demand for electric cars in the world market.
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The company's CEO, Mary Barra, said that the company's goal is to lead the production of electric and autonomous cars and that GM will invest about US$ 35 billion until 2025 to become a world leader in electrification, software and autonomous technologies. The recent cost cut, therefore, is part of this company's restructuring plan, which had to adjust its expenses to invest in more promising areas such as electric, autonomous and connected mobility technologies.
Despite massive layoffs, GM has maintained its strength in the world market
It is estimated that the company has a growth in its global sales and the company recorded in the first quarter of 2023 a net profit of US$ 3,01 billion and a 3,8% increase in its global sales, marking the fourth consecutive quarter of sales growth for the automaker.
GM's leadership in electric vehicle market has also contributed to its favorable position in the market. The company is a leader in the EV market in the United States, with models such as the Chevrolet Bolt EV and the GMC Hummer EV. In order to make a transition to electric mobility, GM is investing in technologies that can increase the efficiency of electric motors, in addition to improving the range of vehicles and making them more accessible to the consumer.
