GM cutting hundreds of jobs to reduce costs
FREE Breaking News Alerts from StreetInsider.com!
StreetInsider.com Top Tickers, 6/12/2026
- Wall Street ends higher as SpaceX's market debut dominates
- SpaceX prices historic IPO at $135/share in largest ever new listing
- 'Ocean of opportunity': Wolfe initiates SpaceX at Buy ahead of historic IPO
- UBS cuts gold price forecasts on delayed Fed easing outlook
- Brent falls to lowest since March on expected peace deal
- NASDAQ adds five companies to NASDAQ-100 index in quarterly rebalance
- Adobe CFO Dan Durn to depart company in June 2026
- Oppenheimer Starts SpaceX (SPCX) at Outperform, PT $190, 'space infrastructure appears structurally advantaged'
- Pentagon reportedly locked down, hazmat teams responding
- Super Micro Computer establishes $1.25 billion stock sale agreement
General Motors (GM) cuts 500 jobs
March 1, 2023 7:31 AM ESTGeneral Motors (NYSE: GM) announced internally on Tuesday that the company will be cutting hundreds of salaried positions as it follows other major companies, including competitors, in downsizing headcounts to preserve cash and boost profits.
The timing of the cuts comes roughly a month after GM CEO Mary Barra and CFO Paul Jacobson told investors that the company was not planning any layoffs.
The cuts, first reported by The Detroit News, could affect around 500 positions across various functions of the company,... More
