All articles tagged with #gm
General Motors laid off about 500–600 IT employees in Austin and Warren, with AI reportedly influencing the decision amid an IT restructuring; severance ranges from two to six months based on tenure, plus lump-sum health benefits and outplacement services, while GM continues hiring in IT, including AI-focused roles.
GM plans to eliminate about 500–600 IT jobs globally as it pivots toward AI and other future technologies, while continuing to hire for AI-enabled roles; the move follows other Michigan layoffs and underscores a broader auto-industry shift toward digitization and cost optimization.
General Motors is laying off about 500-600 salaried IT workers, primarily in Austin, Texas and Warren, Michigan, as part of a broader workforce transformation to cut costs. The company confirmed the reductions but did not provide specifics and said it will support affected employees. GM continues to hire in IT, with openings in AI and autonomous-vehicle programs, and has previously laid off CAD engineers.
General Motors agreed to pay $12.75 million to California prosecutors to settle claims it sold driving data (names, contacts, geolocation, and driving behavior) of hundreds of thousands of Californians to data brokers like Verisk Analytics and LexisNexis. GM will stop selling driving data to consumer reporting agencies for five years, delete existing data within 180 days unless drivers permit retention, and build a privacy program to assess data practices. The AG noted drivers were not directly impacted under California law, and GM still profited about $20 million from OnStar data despite the settlement.
Ford’s 10R80 and GM’s 10L80/10L90 share hardware but run different software and internal components, so they’re not interchangeable. Ford’s 10R80 debuted in the 2017 F-150; GM’s 10L80 arrived in the 2016 Camaro ZL1. Both have had reliability issues and recalls (Ford with CDF-drum shifting and related fixes; GM with shudder/lockups and valve-body issues), illustrating distinct implementations of a common 10-speed goal.
GM says the Iran war is pushing up costs, but demand for expensive vehicles remains resilient, with Q1 average vehicle transaction price around $52,000. First-quarter sales fell about 9.7% amid tighter inventories and a retooling cycle for full-size pickups. The company is offsetting higher costs through cost cuts, efficiency gains, and tariff relief, and is diverting shipments to the U.S. to reduce exposure to the Middle East, while signaling readiness for potential shifts toward more affordable or electric models if needed.
Futures point to a mixed open as AI names slide after OpenAI missed targets ahead of the Musk–Altman trial; investors also weigh Iran’s Strait of Hormuz talks, GM’s tariff refund boosting 2026 guidance, and growing interest in crypto perpetual futures, plus a Spotify–Peloton partnership (Spotify shares fell after earnings). Billionaire Ray Dalio warns the U.S. economy faces stagflation and cautions against rate cuts.
GM is expected to post about $2.61 in Q1 2026 EPS, Ford around $0.19, and Stellantis roughly €0.73 for the year, as the automakers contend with higher costs from the Iran war and supply-chain pressures. GM maintains a stable 2026 outlook with solid margins and cash flow; Ford faces aluminum-supply disruptions and a restructuring; Stellantis pursues a gradual turnaround with mid-single-digit revenue growth and low-single-digit margins, while Q1 shipments for the group rose about 12%.
Rumors indicate GM plans a seventh-generation Camaro built on the same architecture as the next Cadillac CT5, with production targeting fall 2027 and potentially sharing the platform with a Buick sedan; expected output is about 60,000–70,000 units combined for CT5 and Camaro, with Grand River Assembly in Lansing likely handling production.
GM has idled its Detroit Factory Zero EV plant again due to slowing U.S. demand for electric vehicles, temporarily laying off about 1,300 workers from March 16 to April 13. The plant, which builds the GMC Hummer EV, Sierra EV, Silverado EV, and Cadillac Escalade IQ, has faced prior shutdowns and job cuts, while GM continues retooling nearby Orion Assembly for gas-powered pickups. The episode highlights a shift away from the plant’s once-ballyhooed “factory of the future” branding as the company grapples with EV write-downs and policy changes, even as it remains a top EV seller behind Tesla thanks to models like the Equinox EV and Lyriq.
GM's Vortec family evolved from the mid-1980s 4.3L V6 to late-90s V8s like 5.0/5.7 and 5.3/8.1, earning praise for durable design, high-flow heads, and solid fuel economy—popular in Silverado/Sierra pickups and large GM SUVs and built off the tried-and-true small-block 350 platform, with influence on swaps and a reputation for longevity. However, later tech like Active Fuel Management (launched in 2007) brought civil backlash due to lifter noise, increased oil consumption (notably in the 5.3L) and knock-sensor issues, prompting aftermarket AFM delete solutions and discussions about reliability, ultimately leading GM to move on to EcoTec3 engines.
The Bulwark argues that Donald Trump’s rollback of EV incentives and emissions standards—along with notable moves like GM ending Bolt production and converting its factory back to internal combustion engines, and Honda scrapping several planned EVs—is dampening U.S. EV momentum. Yet rising gas prices could renew consumer interest in electrics, suggesting a volatile moment as legacy automakers face renewed competition from global players.
The Athletic reported Broncos GM George Paton’s name is circulating in discussions about the Minnesota Vikings’ GM vacancy, though he remains under contract with Denver through 2026 and talks of a long‑term extension have been mentioned. Paton has fostered a productive partnership with coach Sean Payton and overseen a successful drafting period, making a move elsewhere possible but unlikely unless circumstances change.
GM beat 2025 earnings, announced a 20% dividend increase and a $6 billion buyback, and guided stronger 2026 results as analysts praise its execution and capital allocation amid tariffs and political uncertainty. The company plans to invest $10–12 billion annually in 2026–27 to expand U.S. manufacturing, offset tariff costs with regulatory savings and efficiency gains, and relies on robust cash flow (over $20B year-end) to fund returns while continuing to shift toward more profitable traditional vehicles.
GM reports 2025 results with EBIT-adjusted at the high end of guidance and a 54% total return; U.S. market share rose to its highest since 2015, OnStar subscriptions hit 12 million, and several vehicles earned top awards. For 2026, GM targets 8–10% EBIT-adjusted margins in North America, continues strong cash generation, raises the dividend by 20%, and launches a $6B share repurchase while expanding U.S. production toward 2 million units and accelerating its EV profitability plan, all while reiterating forward-looking risk disclosures.