General Motors will cut headcount in its global headquarters in Singapore as part of its efforts to decrease exposure to unprofitable and unpromising markets.
GM International – which manages markets such as India, Southeast Asia, and South Korea, to name a few – will decrease its staff to about 50 from 180 by the year end, as per an individual with understanding of the matter.
About 90 staff members will leave the company by the end of June and 40 by the end of this year.
Last week, the automaker said it would take a $500 million charge in the second quarter to reorganize operations in India, Africa and Singapore.
The company prepares to stop offering Chevrolet brand vehicles in India by the end of the year and will produce automobiles only for export.
Since Mary Barra took over as CEO in 2014, the company has actually doubled down on a bet that it can win by being less worldwide however more profitable in an auto industry progressively depending on software and services.
