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According to multiple media reports on August 19, General Motors plans to lay off more than 1,000 salaried employees worldwide after a streamlining assessment of its "software and services division."

The layoffs mainly involve GM's "software and services division," including about 600 jobs at the GM Technology Park near Detroit, USA. GM declined to disclose the total number of planned layoffs, but people familiar with the matter said that the affected employees had received notice on the morning of the 19th. As of the end of last year, GM had a total of 76,000 salaried employees worldwide, and the layoffs accounted for about 1.3% of the company's total salaried employees.

Analysts pointed out that the main reason for GM's layoffs this time is to cut costs and cope with the challenges of the development of the automotive industry, while focusing on investing in new areas. Currently, GM has invested billions of dollars in areas such as pure electric vehicles and "software-defined vehicles."

It is reported that GM's "Software and Services Department" covers multiple areas such as in-car entertainment systems, security services, and subscription services. The company hopes to achieve long-term profit growth by selling software or providing subscription services. In May last year, former Apple executive Mike Abbott was appointed head of GM's newly established software department, but he left in April this year due to health reasons.

Reprinted from: CCTV Finance

Source: Dazhong News-Dazhong Daily