Sat, May 13th, 2023 - 9:00am
March 03, 2023 - 8:00pm | By Kyle Cornell
(Detroit, MI) -- General Motors will be cutting approximately 500 jobs on the executive and salary level.
The announcement comes one month after CEO Mary Barra said the automaker was "not planning layoffs."
A statement released by GM says the move affects a "small number" of employers and executives globally. GM did report a strong profit, but some believe the cost of producing electric vehicles is forcing GM to make adjustments.
The company expects to spend between eleven and 13-billion dollars on EVs this year.
