Oct. 24 (UPI) -- General Motors terminated hundreds of jobs Friday in a cost-saving boost days after GM stock value soared.
More than 200 salaried, largely white-collar jobs got laid off mostly at GM's technical center in Warren, Mich. The company delivered the message around 7 a.m. EDT via Slack and added jobs cut were not due to performance, but rather "business conditions."
In a statement, General Motors said it was "restructuring" its design engineering team in order to "strengthen our core architectural design engineering capabilities" from cuts in computer-aided stuff.
"As a result, a number of CAD execution roles have been eliminated," GM officials told Bloomberg. "We recognize the efforts and accomplishments of the impacted team members, and we thank them for their contributions."
GM reported better-than-expected third quarter earnings earlier in the week.
