Thread regarding General Motors layoffs

More Job cuts coming in June

HR already is making another headcount number to be let go due to “performance issues”.

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| 3159 views | | 34 replies (last April 29)
Post ID: @OP+1rPQl23b

34 replies (most recent on top)

The rug is about to be pulled on millions of Americans. There's a Federal tax credit that incentivizes corporate replacement of Americans with migrants. It's called the Work Opportunity Tax Credit (WOTC).
Don't think it will affect you?
Still think complaining about RTO is in your best interests?
Do you think this might affect car sales?
Inflation will get worse. So will interst rates, foreclosures, charge offs, crime, tent cities, you name it. This is all being done deliberately.

https://www.irs.gov/businesses/small-businesses-self-employed/work-opportunity-tax-credit

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Post ID: @sjju+1rPQl23b

“ where did all the profit go that was bragged about last year”
Stock buybacks. $10 billion!
Net result: A small price increase for the stock. Worth it?

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Post ID: @pokb+1rPQl23b

record profits, top sales in the us, yet, globally GM has had to pull out of most places. really only operating in china and the us.

where did all the profit go that was bragged about last year?

i still think MB will be gone by dec 2025. gm has gone down hill and can't compete globally.

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Post ID: @majn+1rPQl23b

One of the trends being pushed is a 4 day work week.
Some things to look forward to if it comes your way:
Shifting from full time status to part time.
Losing full time benefits like 401k matching, health benefits and a bonus.
Having 1/5 of your income being cut.
Having the same workload from the 40 hour week in your 32 hour week.


Some will tell you that a UBI will fill in for those missing hours but who pays for that? More government debt which lowers the value of the dollar (much higher inflation)?

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Post ID: @lamj+1rPQl23b

@jryp+1rPQl23b
Great point about affordable vehicles. Something lost on the "GM needs to only sell light trucks because they are profitable" parrots.
If GM can't figure out how to sell regular cars that meet the needs of their consumer base AND earn a profit, they will deserve the failure that follows. Korean and Japanese manufactures will be happy to take that market share.

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Post ID: @kvpq+1rPQl23b

Credit card delinquency rates for some credit card companies doubled YOY. In a recession, people will gravitate toward cheaper cars. Kia's cheapest car is almost 50% cheaper than GM's cheapest car (Trax at $30k). We are not positioned to compete, especially considering that auto interest rates are 8% and double digits for non-prime borrowers.

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Post ID: @jryp+1rPQl23b

How is the ‘year of execution’ going for you?

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Post ID: @jiss+1rPQl23b

@hnfv+1rPQl23b
A bird told me there's one in mockup.
If no one is looking you can even climb inside and check it out.
Enjoy.
Why did it fail before it started?
SLT can answer that. Perfect question for your APM. Do it!
We can probably guess why...

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Post ID: @hgbb+1rPQl23b

What ever happened to the eLCV program? GM even created a whole new brand: BrightDrop.

The program was bragged about as the fastest zero to production program in the history of GM.

https://news.gm.com/newsroom.detail.html/Pages/news/us/en/2021/sep/0928-brightdrop.html

A bit later renamed ZEVO600 and ZEVO410, to show a couple of different sizes, meant for FedEx and other delivery companies. At one point DHL, Amazon, UPS, Pepsi, and Version signed on, in addition.

The tooling moved from the Kuka site in Livonia, MI, just south of I-96, to across the USA/CAN border at Cami Asm.

And now nothing. So where are the electric trucks that were to compete with Rivian's version?

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Post ID: @hnfv+1rPQl23b

Tesla...10% of the company let go.
Seems like things are winding down.
People don't want electric vehicles. Message received. So what's the plan? So many of us are still working on EV projects. It's not unreasonable to think the endgame is about to play out.
High interest rates, record debt, mass layoffs, global wars, supply chain issues, record inflation... 2008 remix but with 35 trillion in government debt and a commercial real estate meltdown.

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Post ID: @exov+1rPQl23b

"You guys keep saying there will be layoffs."
Yes. Yes indeed, there will be layoffs. But they won't be limited to GM.

Watch this and you will understand what we are facing and what to expect from a historical perspective (all the numbers line up with 1929).
https://www.youtube.com/watch?v=ELF_EivMCMI

If the discussion about the yield curve is mystifying, here's a really great breakdown of what it is (highly recommended from WSJ):
https://www.youtube.com/watch?v=bItazfbSptI

And if all of this is noise to you or you think it's improbable/wrong, God Bless.

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Post ID: @cvxo+1rPQl23b

Maybe the security guards are waiting to use the bathrooms?

That or maybe they are regulating toilet paper and hand soap usage........

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Post ID: @9nil+1rPQl23b

You will get the axe before memorial day weekend. Happy weekend folks!

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Post ID: @9tth+1rPQl23b

Security guards at the Cole entrances today. Historically, that is an ominous sign…

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Post ID: @9fqx+1rPQl23b

When HR roles are replaced by AI, few will feel sorry for them.
This is inevitable.

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Post ID: @8zgn+1rPQl23b

But for years you guys keep saying there will be layoffs. I've been working at GM for 20 years and have never been laid off.

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Post ID: @7swx+1rPQl23b

It's not that big of a deal if you are direct, with a large buffer of contract to be disposed off. I lived that world long enough to know how that plays out.

Be thankful you f**ks got raises this year. There are many tier ones that did not. Do you know how big of an impact that's going to be for the OEM? The tier ones are bracing for impact and the OEMs haven't a clue.

Do you remember the 2008 concessions? Yeah, we know that very well. Sure this sh*t is all staged, scripted, but it doesn't mean it doesn't effect your livelihood.

Game on. Bring the pain.

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Post ID: @5obg+1rPQl23b

June. The way things are it may happen in May. It is dog eat dog situation. My hunch is Tesla sell direct. So its numbers results of downfall come early. GM real numbers get delayed by 2 or 3 months as first dealers overflow lots will keep lid fir some time

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Post ID: @5szg+1rPQl23b

RTO is a complete failure….

The amount of productivity being lost in groups is not even being seen.

How some a-s clowns think groups are being highly productive and collaborating must have their heads up their as--s.

Barra needs to go,

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Post ID: @4ehd+1rPQl23b

This post isn't a lie. I've heard the same thing.

Big shakeup in June, quiet quit and skip. GM is a re--rded company.

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Post ID: @3qeb+1rPQl23b

This board is ALL rumor, speculation, and rehashing past events.

No one who knows the plan is posting here, so you're never going to get verifiable sources for a rumor.

Either email Mary directly for the confirmation you crave, or just kick back and enjoy the conversation.

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Post ID: @3kmj+1rPQl23b

Unless source can be cited will just assume this is more internet bs to stir the pot. While we’re spreading rumors, aliens landed in metro Detroit today and both political parties in DC were able to pass a bipartisan balanced budget for the year.

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Post ID: @2anu+1rPQl23b

Any information suggesting that HR is making cuts should be considered rumor until verified by reliable sources. It's essential to remember that rumors can arise for various reasons, including miscommunications, misunderstandings, or even deliberate attempts to spread false information. It's always a good idea to seek out confirmed information from trusted sources before drawing any conclusions.

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Post ID: @1efp+1rPQl23b

With SAIC canceling EV joint ventures with GM and VW and another lawsuit coming from collecting and selling driver data, yeah, more cuts wouldn’t be suprising…

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Post ID: @1kwz+1rPQl23b

Well Stellantis blindsided 400 engineering white collar people. these c level people could care less if your homeless tomorrow!

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Post ID: @1wxt+1rPQl23b

As always most vulnerable are folks in their 50s. That’s their reward for being loyal.

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Post ID: @1jth+1rPQl23b

It wouldn’t surprise me. We tried to rush our EV’s, wastefully spent a lot of $$$, & now the jerk-wod beancounters have been asked for ways to cut costs. As reducing headcount and bringing in fresh new college hires seems to get people +’s on their quarterly reviews, it all comes down to GM’s demented fuzzy math on things.

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Post ID: @1sza+1rPQl23b

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