General Motors (GM) cut 1,000 jobs Friday as part of a broader push to cut costs and boost electric vehicle (EV) sales, according to The Wall Street Journal.
Although GM’s EV sales have been increasing as of the third quarter of this year, the company is still expected to lose money on EVs in 2025, according to The WSJ. About 5,000 GM executives and employees accepted voluntary buyout offers in 2023 as the company aimed to avoid mass layoffs, according to CNN.
Many automakers have walked back EV goals due to a lack of consumer demand, including Ford, which announced in August that it was canceling plans to build three-row electric SUVs, and Mercedes-Benz, which announced in February that it would scale back plans to have an all-electric line-up by 2030. Some companies have increasingly pushed to incentivize EV purchases, including Ford, which announced in September that it would…
