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General Motors lays off 1,000 employees to cut costs; company veteran of 38 years fired via email at 5 am
2 min read | Updated on November 22, 2024, 09:11 IST
SUMMARY
American automobile manufacturer General Motors recently announced the layoff of nearly 1,000 employees worldwide as part of its efforts to lower costs amid a crowded automotive market. The company also terminated a long-time employee via email, who had worked there for nearly four decades and spent the past few years analyzing its competitors and strategizing for growth.
Adam Bernard, who was also laid off recently, joined General Motors in 1986 as an analyst and spent 38 years working for the company
General Motors (GM), an American automobile manufacturer, has laid off approximately 1,000 employees worldwide as the company seeks to cut costs in the competitive automobile market, according to a report by the news agency AP.
The workers laid off were mostly white-collar and were notified about the decision on Friday last week. The company confirmed the layoffs but didn’t provide enough details.
“We need to optimise for speed and excellence. This includes operating with efficiency, ensuring we have the right team structure and focusing on our top priorities.” AP quoted a company statement.
Among the laid-off workers is Adam Bernard, a company veteran who was an employee at GM for almost 4 decades and held the position of Associate Director, Competitor Intelligence. Expressing his surprise, Adam wrote in a LinkedIn post saying, “Well, in unexpected news, I was let go from GM at 5.07 am this morning via email, along with (I hear unofficially) about 1,000 people globally. I wonder what I should do next…?”
I would appreciate your support, says Bernard
Bernard joined GM in 1986 as an analyst and spent 38 years working for the company. During his tenure, he did his MBA at Harvard and spent several years strategising for GM.
In a follow-up post on LinkedIn, he said that he is seeking new opportunities but hasn’t planned what he will do in the near future yet.
“I am considering new roles and would appreciate your support. I hadn’t planned on starting a new chapter at this point, but I still love the auto industry and am looking to stay connected,” he said.
Transition to electric vehicles
Automakers all around the globe have been navigating an unpredictable transition to electric vehicles (EVs), including GM, the report noted. EV sales in the US and worldwide have been growing over the past few years, rising by 35% year-over-year (YoY) to 14 million in 2023, according to the International Energy Agency (IEA). The positive trend for EVs is expected to continue in 2024 and EV sales could reach 17 million by the end of 2024, marking a 20% increase, as per IEA’s predictions.
Last year around April, nearly 5000 GM employees accepted the company’s buyout offers which were also aimed at cutting costs.
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