24 May '17, 7pm

GM to cut jobs in international HQ in Singapore: source

GM to cut jobs in international HQ in Singapore: source

General Motors Co (GM.N ) will slash headcount in its international headquarters in Singapore as part of its efforts to reduce exposure to unprofitable and unpromising markets. GM International - which oversees markets such as India, Southeast Asia, and South Korea, among others - will reduce its staff to about 50 from 180 by the year end, according to a person with knowledge of the matter. About 90 employees will leave the company by the end of June and 40 by the end of 2017. Last week, the Detroit-based automaker said it would take a $500 million charge in the second quarter to restructure operations in India, Africa and Singapore. The company plans to stop selling Chevrolet brand vehicles in India by the end of the year and will produce vehicles only for export. Since Mary Barra took over as GM's chief executive in 2014, the company has doubled down on a bet that it can...

Full article: http://www.reuters.com/article/us-gm-restructuring-idUSKB...

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