(AP) — General Motors is starting to lay off about 4,300 white-collar workers worldwide this week.
In November, the company said it wanted to cut 8,000 salaried and contract workers so it can raise profit margins and invest more in autonomous and electric vehicles.READ MORE: COVID Test Confusion After Suburban Family Believes They Got False Result from University Of Illinois SHIELD Program
The company says 2,200 white-collar employees took buyouts, while another 1,500 contract workers were let go.
Many of the layoffs will happen at GM’s technical center near Detroit. Most work on components for internal combustion engines and discontinued car models.READ MORE: Chicago Weather: Disturbance Brings Chance Of Rain-Snow Mix To Our North Overnight
GM also plans to close one Canadian and four U.S. car factories, shedding another 5,000 jobs. But 2,700 U.S. workers will be offered jobs at other factories.
GM says the layoffs are part of a restructuring will add up to $2.5 billion to its bottom line this year.MORE NEWS: Jussie Smollett Trial: Defense Attorney Calls For Mistrial And Accuses Judge Of Lunging At Her; Judge Denies Claims And Motion
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