• The latest cuts will affect its employees worldwide, the report stated.
• Sources told the news outlet that management began notifying affected employees on Monday morning.
• GM recorded a massive loss from EVs due to slow demand, which led it to cut thousands of jobs last year.

General Motors (GM) is slashing around 500 to 600 jobs in its information technology department as part of the latest move to cut and save costs, along with plans to bring fresh talent with new skills, Bloomberg reported on Monday.

The automobile giant confirmed to Bloomberg that it is eliminating some jobs as part of efforts to transform its IT department. Sources told the news outlet that management began notifying affected employees on Monday morning.

The latest cuts will affect its employees worldwide, GM told Bloomberg. Shares of the company were down nearly 4% in midday trading.

Ongoing Struggles For Automakers

The company has been on a cost-cutting spree since October last year, when it announced it would slash 5,500 jobs across three U.S. plants due to a slowdown in demand for its electric vehicles, according to Bloomberg. That same month, it also announced it had laid off more than 200 salaried staff at its Tech Center in Warren, Michigan, due to “business conditions.”

In the first quarter, the firm took a $1.1 billion charge related to a cutback in EV spending. In 2025, the company booked $8.5 billion in losses due to various charges related to EVs.

The slowdown in EV demand also led rival Rivian to slash about 600 positions last year.

Outside the U.S., global automakers are also struggling to cope with higher costs and have been implementing cuts lately. Among them are Nissan and Porsche, slashing about 500 and 900 jobs, respectively, according to media reports.

What Retail Traders Think Of GM Stock

On Stocktwits, retail sentiment about GM remained ‘bearish’ over the last 24 hours, with many users sharing the news of job cuts from Bloomberg.

GM stock has lost nearly 7% so far this year, but has gained over 52% over the past 12 months.

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