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ReutersGM layoffs 2025 GM layoffs 2025: General Motors (GM) has revealed plans for major cuts to its US electric vehicle and battery production, impacting thousands of workers across key states, as the automaker responds to a slowdown in demand for its EVs, as per a report.GM Layoffs Amid Slowdown in EV DemandThe Detroit-based company said Wednesday that it will temporarily halt battery cell production at its two US joint-venture battery plants in Tennessee and Ohio starting in January, a pause expected to last about six months, as per a report. This move will lead to temporary layoffs of roughly 1,550 workers at the facilities, reported Reuters.In addition, GM will lay off 550 workers indefinitely at its Ohio plant, which it operates in partnership with South Korea’s LG Energy Solution, according to the report.ALSO READ: Caterpillar stock skyrockets 14% after stellar Q3 earnings - what went right for the bulldozer maker?General Motors' Detroit EV Plant Output to Be Cut by 50%The company also plans to reduce production at its Detroit EV plant to a single shift starting in January, down from the current two shifts. This reduction will cut output by approximately 50%. The plant manufactures some of GM’s largest electric vehicles, including the Chevrolet Silverado and GMC Sierra pickups, the EV Escalade IQ, and the Hummer SUV, as per the Reuters report.Live EventsTax Credit Expiry Adds to EV Market PressureGM said the cuts come “in response to slower near-term EV adoption and an evolving regulatory environment,” as quoted in the report. The automaker has been adjusting its EV sales outlook after a federal $7,500 tax credit for battery-powered models expired at the end of September, as per Reuters. Looser vehicle-emissions regulations under the US government have also weighed on demand.ALSO READ: Caterpillar stock skyrockets 14% after stellar Q3 earnings - what went right for the bulldozer maker?GM Adjusts EV Strategy, Takes $1.6 Billion ChargeEarlier this month, GM took a $1.6 billion charge tied to changes in its EV strategy, signaling the company’s broader efforts to recalibrate its approach to electric vehicles amid shifting market conditions.GM Stock Hold Steady Despite LayoffsDespite these cuts, GM shares were only slightly down, trading at $69.65 midday Wednesday, after gaining more than 35% so far this year.GM Layoffs Add to Growing Job Cuts Trend in US CompaniesThe layoffs mark another significant wave in the US job market, following similar reductions at Amazon and other major companies, affecting thousands of workers in key states and raising concerns about the broader impact on the US economy.FAQsWhy is GM cutting jobs?GM said the layoffs are due to slower EV demand and an evolving regulatory environment.How many workers are affected by GM layoffs?Around 1,550 workers will be temporarily laid off, and another 550 will lose their jobs indefinitely.Add as a Reliable and Trusted News Source Add Now! (You can now subscribe to our Economic Times WhatsApp channel) Read More News onGM layoffs after Amazon layoffs 2025GM layoffs 2025General Motors job cuts in USGM job cuts 2025GM factory layoffsGM EV production cutsgm stock todayGM Detroit plant layoffsGM Ohio plant layoffsGM layoffs explained (Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless (You can now subscribe to our Economic Times WhatsApp channel)Read More News onGM layoffs after Amazon layoffs 2025GM layoffs 2025General Motors job cuts in USGM job cuts 2025GM factory layoffsGM EV production cutsgm stock todayGM Detroit plant layoffsGM Ohio plant layoffsGM layoffs explained(Catch all the US News, UK News, Canada News, International Breaking News Events, and Latest News Updates on The Economic Times.) Download The Economic Times News App to get Daily International News Updates....moreless
