The GM logo is seen at the General Motors plant in Sao Jose dos Campos, Brazil, January 22, 2019. Reuters/Roosevelt Cassio
New York: General Motors said Monday that it is trimming its software and services workforce as the automaker moves to beef up new technology investments while protecting profitability.
The Michigan auto giant is cutting more than 1,000 salaried jobs overall, including some 600 at GM's tech campus near Detroit, according to reports from CNBC and the Detroit News, which cited an unnamed source.
GM confirmed it was cutting jobs, but declined to disclose figures.
"As we build GM's future, we must simplify for speed and excellence, make bold choices and prioritize the investments that will have the greatest impact," a GM spokesman said. "As a result, we're reducing certain teams within the software and services organization."
At the end of 2023, GM had 87,000 hourly workers and about 76,000 salaried employees, according to a securities filing.
In July, GM reported higher profits behind strong North American sales that compensated for a quarter of losses in China.
While the company has slowed some investments in electric vehicles and autonomous driving, these remain sources of heavy capital spending. GM has vowed $2 billion in cost cuts to offset the outlays.
The company in June also authorized a new $6 billion share repurchase program.
