General Motors may be taking action to stem its growing losses in the Chinese market. A report published on 13 August 2024 by Reuters claimed that GM-SAIC—a joint venture between GM and China’s state-owned automaker SAIC—will be cutting up to 30% of its total headcount. The article stated that “thousands” of employees could be let go by the end of 2024.
After slipping 50% from its sales peak in 2017, GM-SAIC might be changing strategy to accommodate its diminished market presence. By Stewart Burnett
