Copyright Fast Company
General Motors joins Amazon and Paramount this week, announcing on Wednesday it will be laying off 1,750 workers in Michigan and Ohio, in response to the downturn in U.S. electric vehicle (EV) market. The Detroit News first reported the news. Shares in the automotive maker (NYSE: GM) were down less than 1% in midday trading on Wednesday. The company said those cuts include 1,200 workers in Detroit at the company’s electric vehicle plant and another 550 employees at Ohio’s Ultium Cells battery cell plant. The company is also instituting temporary layoffs for some 850 workers at the Ohio plant and another 700 workers in Tennessee, General Motors confirmed to Fast Company. Federal electric vehicle (EV) tax credits of up to $7,500 expired at the beginning of this month following the signing of the President Donald Trump’s One Big Beautiful Bill Act (OBBBA). Now automakers are bracing for a decline in EV sales in the U.S. “In response to slower near-term EV adoption and an evolving regulatory environment, General Motors is realigning EV capacity,” the company said in an emailed statement to Fast Company. “Despite these changes, GM remains committed to our U.S. manufacturing footprint, and we believe our investments and dedication to flexible operations will make GM more resilient and capable of leading through change.” Impacted employees may be eligible for SUBpay and benefits in accordance with the National GM-UAW Agreement, GM said. General Motors will adjust production at its Ohio Ultium Cells plant and will temporarily pause battery cell production at the Spring Hill, Tennessee and Warren, Ohio facilities in January 2026, but anticipate resuming operations by mid-2026. (Impacted employees may be eligible to continue receiving a significant portion of their regular wages or salary, plus benefits.) General Motors financials Last week, General Motors’ third-quarter earnings results beat expectations, with revenue coming in at $48.59 billion versus an expected $45.27 billion, and earnings per share (EPS) of $2.80 adjusted, beating expectations of $2.31. The company also raised its financial guidance for the year.
