General Motors Reportedly To Cut Jobs In China And Plan Major Overhaul With SAIC

(RTTNews) - General Motors Co. (GM) has begun reducing its workforce in China and will soon convene with its local partner, SAIC, to discuss a major structural overhaul of its operations in the region. This move reflects the automaker's acknowledgment that it is unlikely to achieve the peak sales figures it reached in 2017, Bloomberg reported citing people familiar with the matter.

According to the report, the staff reductions are focused on departments related to the Chinese market, including research and development. In the near future, GM and SAIC will consider potential capacity reductions as part of a strategic shift for American-branded vehicles sold in China.