GM To Cut 1,000 Salaried, Hourly Jobs To Reduce Costs : Reports

(RTTNews) - Friday, General Motors Co. (GM) has decided to lay-off about 1,000 salaried and hourly employees across various divisions, mostly in North America, according to several media reports.

The decision comes as the automaker aims to enhance its operational efficiency, by controlling costs.

"In order to win in this competitive market, we need to optimize for speed and excellence," GM spokesman Kevin Kelly confirmed the news in an email to Bloomberg.

"This includes operating with efficiency, ensuring we have the right team structure, and focusing on our top priorities as a business. As part of this continuous effort, we've made a small number of team reductions."

Earlier this year, the company eliminated about 1,000 software engineers worldwide.

Currently, GM's stock is falling 1.04 percent to $57.02 on the New York Stock Exchange.