General Motors Company, ahead of its fourth-quarter results, is set to be cutting off its jobs at least by 4,000, according to CNBC citing two people briefed on the matter.
The process will be started on Monday and layoffs salaried workers in company’s North America facilities.
In November, Mary Barra, CEO of GM had announced the company to be going through a massive restructuring plan and current job-reduction is also a part of that. In order to bring its plants as well as workforce to be line upped for producing higher number of electric vehicles, company is not only stopping its production at five of its North American facilities but is also cutting about 14,000 jobs.
GM is expected to be posting its quarterly results on Wednesday and its executives are desirous to complete the process with highest possible layoffs before that, the people said, asking not to be named as company not officially disclosed the information to the public yet.
To the other hand, Pat Morrissey, GM’s spokesman, told CNBC on Friday that employees are the main concern of the company and before making dialogue with them, company cannot confirm the timetable of layoff.
Previously the company was not thought to be taking such sudden steps towards the involuntary layoffs.
According to a document obtained by CNBC at the time, in November GM had made an offer of buyout to about 17,700 of its employees in North America who have completed at least 12 year of service with the company, through which company, as it confirmed previously, was expecting to have 8,000 voluntary buyouts. By November 19, 2018, company remained successful to get acceptance of severance agreement from 2,250 workers which it had confirmed previously. One of the people briefed on the layoffs told CNBC that since November, company came out eliminating roughly 1,500 contractual jobs.