GM cuts 1,000 jobs globally, salaried and hourly, in move to 'strive for efficiency' [Yahoo! Finance]
Stellantis N.V. Common Shares (STLA)
Company Research
Source: Yahoo! Finance
The move comes after the firm reduced its electric-vehicle production and adopted a new salaried employee ranking system to classify workers by their productivity earlier this year. In August, GM also laid off almost 1,500 employees — none of which were reported in Tennessee, but mostly in its service and software divisions. The layoffs have been concentrated among the firm's white-collar workers. Its Tennessee operations appear to be unaffected, but company officials declined to confirm whether Spring Hill workers were hit by the job cuts. GM's Spring Hill Manufacturing plant builds the Cadillac XT5, XT6 and the all-electric LYRIQ models. In September, workers at GM's Ultium Cells battery plant in Spring Hill joined the United Auto Workers. Ultium is a joint venture of GM and LG Energy Solution to produce batteries for EVs. The UAW won contract upgrades for GM, Ford and Stellantis workers in 2023. The automaker will also stop using its Yuma Desert Proving Grounds in Arizona
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