NEW YORK, March 1 — General Motors Co is cutting hundreds of executive-level and salaried jobs as it looks to cut costs and streamline operations, a person briefed on the...
NEW YORK, March 1 — General Motors Co is cutting hundreds of executive-level and salaried jobs as it looks to cut costs and streamline operations, a person briefed on the matter told Reuters yesterday.GM Chief People Officer Arden Hoffman said in a letter to employees yesterday the Detroit automaker is “committed to US$2 billion in cost savings in the next two years, which we’ll find by reducing corporate expenses, overhead, and complexity in all our products.
GM said the job action Tuesday “follows our most recent performance calibration and supports managing the attrition curve as part of our overall structural costs reduction effort.” Hoffman said “in an environment where our competitors’ margins are improving, it’s imperative that we act now and focus on our own efficiency.”
Hoffman added that “to deliver on our commitments and to beat the competition, we need to have the winning team, bar none. We need a culture shift that enables us to hold ourselves accountable for achieving the higher levels of operating that are now required.”He said “globally, employees and leaders will be equipped with options to address any issues with greater urgency, so we can achieve our boldest goals.... This is a fundamental cultural shift to be more performance-driven and accountable.
Earlier this month, Ford Motor said it was cutting one in nine jobs in Europe, axing 3,800 roles in pro duct development and administration as part of a drive to lower costs in the region and concentrate engineering know-how in the United States. — Reuters
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Salim Fateh Din is new MCMC chairman effective March 1KUALA LUMPUR, Feb 28 — Tan Sri Mohamad Salim Fateh Din has been appointed chairman of the Malaysian Communications and Multimedia Commission (MCMC) for two years effective March...
Read more »
New York City thieves stealing Apple headphones off victims’ headsAt least 21 people in New York City have had their fancy Apple headphones stolen right off their heads by a roving team of moped-riding bandits, police say.
Read more »
Twitter cuts 200 more jobs: New York TimesThe fresh layoffs include product managers, big data experts and engineers working on machine learning and platform reliability. theSun theSundaily Twitter Employment jobs loss
Read more »
Rupert Murdoch says Fox News hosts ‘endorsed’ false election claimNEW YORK, March 1 — Media mogul Rupert Murdoch admitted in a deposition that hosts on his Fox News network promoted the false claim that the 2020 election was stolen from Donald...
Read more »
New Public Services DG, Treasury sec-gen namedPUTRAJAYA: Datuk Dr Zukapli Mohamed and Datuk Johan Mahmood Merican have been appointed as the new Public Service director-general and the secretary-general of Treasury respectively.
Read more »
Litterbugs to get RM500 fine in Pasir Gudang starting March 1PASIR GUDANG: The Pasir Gudang City Council (MBPG) will be issuing a fine of RM500 to anyone caught littering in public places starting Wednesday (March 1).
Read more »