General Motors lays off 1,000 workers to compete in crowded market

General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.

The workers, mostly white collar, were notified about the decisions early Friday. The company confirmed the layoffs in a statement but gave few details.

“We need to optimise for speed and excellence,” the statement said. “This includes operating with efficiency, ensuring we have the right team structure and focusing on our top priorities.”

GM and other automakers have been navigating an uncertain transition to electric vehicles both in the US and worldwide, trying to figure out where to invest capital and how fast the switch will happen.

The company has had to develop and update gas-powered models while investing in EV battery and assembly plants as well as minerals and other parts for the next generation of electric vehicles.

GM has about 150,000 employees worldwide, with the largest group at its technical center in the Detroit suburb of Warren, Michigan. The company has about 40,000 white-collar workers.