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The automobile market is experiencing considerable ups and downs due to shifting demands, and GM is the latest company to resort to cost-cutting layoffs. The automaker hasn’t revealed how many workers will be affected, but reports suggest that at least 1,000 employees worldwide will be eliminated from its for
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es. Most of GM’s employee cuts are expected to be centered in the U.S. and will primarily affect white-collar workers. The United Auto Workers union confirmed that around 50 of its members have been affected by the layoffs. The company is said to be targeting $2 billion in fixed cost reductions this