GM lays off hundreds of workers while restructuring its design engineering team

Core Insights - General Motors (GM) is restructuring its design engineering team, resulting in layoffs primarily at its tech center in Warren, Michigan, affecting "low hundreds" of workers [1][2] - The layoffs were announced shortly after GM reported strong third-quarter earnings, which led to a 15% surge in the company's stock, marking its largest single-day gain since 2020 [2] - GM has raised its profit outlook due to reduced tariff pressures and lower electric vehicle (EV) losses, having previously reported a $1.1 billion profit reduction due to tariffs and $1.6 billion in charges related to its EV plan rollback [3] Industry Context - Other automakers, such as Rivian, are also downsizing, with Rivian planning to cut 600 jobs, which is 4.5% of its workforce, in response to the expiration of the $7,500 EV tax credit in the US [4]