General Motors announced on Monday that it is implementing a significant workforce reduction, affecting over 1,000 salaried positions within its software and service divisions globally. This decision comes as part of a broader strategy to streamline operations and focus on high-impact investments.

&nbsp;

In an official statement, GM emphasised the need to "simplify for speed and excellence" and make strategic choices to shape the company's future. This restructuring effort appears to be driven by a desire to optimise the organisation's efficiency and allocate resources more effectively, rather than being primarily motivated by cost-cutting measures.

&nbsp;

The layoffs, initially reported by CNBC, are spread across various locations, with approximately 600 positions being eliminated at GM's technology campus in the vicinity of Detroit. The automotive giant clarified that roughly half of the affected roles are based in the United States, with the remainder distributed across its global operations.

&nbsp;

Interestingly, GM attributes this organisational shift to a comprehensive review of its operations, which was conducted following the departure of Mike Abbott, the executive vice president of software and services, in March. Abbott, who left his position due to health concerns, had been a key figure in GM's software development initiatives since joining the company in 2023 after a tenure at Apple.

&nbsp;

Abbott's role had been pivotal in GM's strategic push towards enhanced software capabilities, aligning with the company's increased focus on electric vehicles and subscription-based services. His departure appears to have prompted a reevaluation of the division's structure and priorities.

&nbsp;

This latest round of job cuts follows a series of workforce adjustments at General Motors over the past year. In April 2023, the company saw approximately 5,000 salaried employees accept voluntary buyouts as part of a broader effort to achieve a USD&nbsp;2 billion cost reduction target. This initiative came on the heels of earlier job eliminations in February 2023, which affected hundreds of executive-level and salaried positions.

&nbsp;

The ongoing restructuring at GM reflects the challenges and changes facing the automotive industry as it navigates the transition to electric vehicles, advanced software systems, and new service models. As the company continues to evolve its strategy and operations, it remains to be seen how these changes will impact its long-term performance and position in the rapidly changing automotive landscape.&nbsp;

General Motors announced on Monday that it is implementing a significant workforce reduction, affecting over 1,000 salaried positions within its software and service divisions globally.

General Motors announced on Monday that it is implementing a significant workforce reduction, affecting over 1,000 salaried positions within its software and service divisions globally. This decision comes as part of a broader strategy to streamline operations and focus on high-impact investments. In an official statement, GM emphasised the need to "simplify for speed and excellence" and make strategic choices to shape the company's future. This restructuring effort appears to be driven by a desire to optimise the organisation's efficiency and allocate resources more effectively, rather than being primarily motivated by cost-cutting measures. The layoffs, initially reported by CNBC, are spread across various locations, with approximately 600 positions being eliminated at GM's technology campus in the vicinity of Detroit. The automotive giant clarified that roughly half of the affected roles are based in the United States, with the remainder distributed across its global operations. Interestingly, GM attributes this organisational shift to a comprehensive review of its operations, which was conducted following the departure of Mike Abbott, the executive vice president of software and services, in March. Abbott, who left his position due to health concerns, had been a key figure in GM's software development initiatives since joining the company in 2023 after a tenure at Apple. Abbott's role had been pivotal in GM's strategic push towards enhanced software capabilities, aligning with the company's increased focus on electric vehicles and subscription-based services. His departure appears to have prompted a reevaluation of the division's structure and priorities. This latest round of job cuts follows a series of workforce adjustments at General Motors over the past year. In April 2023, the company saw approximately 5,000 salaried employees accept voluntary buyouts as part of a broader effort to achieve a USD 2 billion cost reduction target. This initiative came on the heels of earlier job eliminations in February 2023, which affected hundreds of executive-level and salaried positions. The ongoing restructuring at GM reflects the challenges and changes facing the automotive industry as it navigates the transition to electric vehicles, advanced software systems, and new service models. As the company continues to evolve its strategy and operations, it remains to be seen how these changes will impact its long-term performance and position in the rapidly changing automotive landscape.

GM lays off over 1,000 salaried software, services employees

Accenture Plc, the Irish-American IT company has announced to slash its working force by 19,000. This comes amid a worsening global economic outlook and the firing spree across the IT sector.&nbsp;

The company is also expecting a considerable dip in its annual revenue amid speculations that global companies might look forward to slashing their IT budgets amid the financial crisis. The company now estimates its annual revenue growth to be in the range of 8% to 10%, lower than the previously estimated range of 8% to 11%.

Watch:&nbsp;Gravitas: Tech layoffs: Is your job safe?

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
<div class="videoWrapper trancodeVideo"><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/videos/gravitas-tech-layoffs-is-your-job-safe-557687/embed" style="width:100%;max-width:560px;" width="560"></iframe></div>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

As per a statement released by the company, revenue for the current quarter is expected to be between $16.1 billion and $16.7 billion. Accenture reported that its new bookings increased by 13% to $22.1 billion during the quarter, while its revenues increased by 5% to $15.8 billion.&nbsp;

During the second quarter, Accenture reported business optimisation expenses of $244 million. Through the fiscal year 2024, the corporation projected that its total costs will be close to $1.5 billion.

The corporation disclosed that more than half of the layoffs will directly affect employees at its non-billable corporate functions. The company's shares increased 4 per cent before the closing bell.&nbsp;

Accenture's announcement comes amid a layoff spree in the IT and tech sector. Tech giants including Google, Meta and Amazon have already set in motion a wave of layoffs, and experts predict that it will last at least through the first half of 2023.

Also Read |&nbsp;<a href="https://www.wionews.com/business-economy/amazon-announces-second-round-of-layoffs-9000-more-employees-to-lose-their-jobs-573984">Amazon announces second round of layoffs; 9,000 more employees to lose jobs</a>

As concerns about a coming recession grow, Amazon has announced another 9,000 job layoffs across its cloud services, advertising, and Twitch departments. Meta has also reduced its total workforce by 20,000 since September last year. Chief Executive Officer Mark Zuckerberg recently warned that the climate of layoffs might last for many years to come. 
 
(With inputs from agencies) 
&nbsp;

<div class="ui-state-default" contenteditable="false">
<div class="twitter-block" draggable="false">
WATCH WION LIVE HERE

<iframe allow="accelerometer; autoplay; encrypted-media; gyroscope; picture-in-picture" allowfullscreen="" frameborder="0" height="350" loading="”lazy”" src="https://www.wionews.com/live-tv/embed?autoplay=1&amp;mute=1" width="100%"></iframe>
</div>
<a class="close-mark close-div" href="#" id="jqclosemark">×</a></div>

&nbsp;

Accenture Plc, the Irish-American IT company has announced to slash its working force by 19,000. This comes amid a worsening global economic outlook and the firing spree across the IT sector.

Accenture Plc, the Irish-American IT company has announced to slash its working force by 19,000. This comes amid a worsening global economic outlook and the firing spree across the IT sector. The company is also expecting a considerable dip in its annual revenue amid speculations that global companies might look forward to slashing their IT budgets amid the financial crisis. The company now estimates its annual revenue growth to be in the range of 8% to 10%, lower than the previously estimated range of 8% to 11%. Watch: Gravitas: Tech layoffs: Is your job safe? × As per a statement released by the company, revenue for the current quarter is expected to be between $16.1 billion and $16.7 billion. Accenture reported that its new bookings increased by 13% to $22.1 billion during the quarter, while its revenues increased by 5% to $15.8 billion. During the second quarter, Accenture reported business optimisation expenses of $244 million. Through the fiscal year 2024, the corporation projected that its total costs will be close to $1.5 billion. The corporation disclosed that more than half of the layoffs will directly affect employees at its non-billable corporate functions. The company's shares increased 4 per cent before the closing bell. Accenture's announcement comes amid a layoff spree in the IT and tech sector. Tech giants including Google, Meta and Amazon have already set in motion a wave of layoffs, and experts predict that it will last at least through the first half of 2023. Also Read | Amazon announces second round of layoffs; 9,000 more employees to lose jobs As concerns about a coming recession grow, Amazon has announced another 9,000 job layoffs across its cloud services, advertising, and Twitch departments. Meta has also reduced its total workforce by 20,000 since September last year. Chief Executive Officer Mark Zuckerberg recently warned that the climate of layoffs might last for many years to come. (With inputs from agencies) WATCH WION LIVE HERE ×

Accenture to lay off 19,000 employees as revenue growth tumbles

Bilquis Mir, known as the aqua woman of Kashmir Valley, has added one more feather in her cap. Bilquis, a&nbsp;water sports champion of Kayaking &amp; Canoeing from the Kashmir Valley has become the first woman from India to be a jury member at the forthcoming Summer Olympics in Paris.

Bilquis Mir is a former water sports champion and trainer from Srinagar who has represented the country at dozens of National and International water sports championships. Bilquis started her journey on the world-famous Srinagar's Dal Lake at the age of six. &nbsp;

'It's a proud moment not only for me but the whole country that India will be a part of the upcoming jury at the Olympics in 2024. It's a dream come true, I started my sports career at the age of six and&nbsp;finally, we are there, India is there. Everyone has a dream of reaching there and I will be the first woman to be there from my country,'' said Bilquis.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/india-news/stage-set-for-indias-first-election-open-debate-shashi-tharoor-accepts-rajeev-chandrasekhars-challenge-708857">Stage set for India's first election 'Open Debate'? Shashi Tharoor accepts Rajeev Chandrasekhar's challenge</a>

The Indian Olympic Association (IOA) has confirmed the appointment of Bilquis Mir in a letter sent to the Jammu and Kashmir government. Bilquis has represented the country multiple times, including as the coach for the women's canoeing team. She was also the only Indian woman and the first from Jammu and Kashmir to be appointed as a jury member at the 19th Asian Games held at Hangzhou in China.

''It was not easy to excel at the International level, being a Kashmiri girl and starting from Dal Lake when there is no awareness about water sports, especially for girls. But I believe never give up on your dreams and keep going and trust yourself. Nobody can stop you from achieving your goal. I want to see my UT and country on the world map, and I want to see more girls like Bilquis represent the country. '' said Bilquis Mir.&nbsp;

Bilquis was bestowed with an award by the government of Jammu and Kashmir. She has also been the recipient of the Devi Award.

Bilquis Mir, known as the aqua woman of Kashmir Valley, has added one more feather in her cap. Bilquis, a water sports champion of Kayaking & Canoeing from the Kashmir Valley has become the first woman from India to be a jury member at the forthcoming Summer Olympics in Paris.

Bilquis Mir, known as the aqua woman of Kashmir Valley, has added one more feather in her cap. Bilquis, a water sports champion of Kayaking & Canoeing from the Kashmir Valley has become the first woman from India to be a jury member at the forthcoming Summer Olympics in Paris. Bilquis Mir is a former water sports champion and trainer from Srinagar who has represented the country at dozens of National and International water sports championships. Bilquis started her journey on the world-famous Srinagar's Dal Lake at the age of six. 'It's a proud moment not only for me but the whole country that India will be a part of the upcoming jury at the Olympics in 2024. It's a dream come true, I started my sports career at the age of six and finally, we are there, India is there. Everyone has a dream of reaching there and I will be the first woman to be there from my country,'' said Bilquis. Also read: Stage set for India's first election 'Open Debate'? Shashi Tharoor accepts Rajeev Chandrasekhar's challenge The Indian Olympic Association (IOA) has confirmed the appointment of Bilquis Mir in a letter sent to the Jammu and Kashmir government. Bilquis has represented the country multiple times, including as the coach for the women's canoeing team. She was also the only Indian woman and the first from Jammu and Kashmir to be appointed as a jury member at the 19th Asian Games held at Hangzhou in China. ''It was not easy to excel at the International level, being a Kashmiri girl and starting from Dal Lake when there is no awareness about water sports, especially for girls. But I believe never give up on your dreams and keep going and trust yourself. Nobody can stop you from achieving your goal. I want to see my UT and country on the world map, and I want to see more girls like Bilquis represent the country. '' said Bilquis Mir. Bilquis was bestowed with an award by the government of Jammu and Kashmir. She has also been the recipient of the Devi Award.

Google joins layoff spree, slashes 12,000 jobs across world, offers 16 weeks’ severance pay

The PC maker, Hewlett-Packard (HP) has said that it would lay off layoff 10 per cent of its global workforce over the next three years. Watch this video to know more.

HP laying off 6000 employees globally over the next three years

Several tech companies are opting for mass layoffs due to uncertainties in the market. WION speaks to Huawei Technologies' Former VP Simon Lacey about the same.

Huawei Technologies' Former VP Simon Lacey on why tech companies are going for mass layoffs?

HP to lay off 10% of global workforce by 2025

layoff-news

Layoff News, News on Layoff News, stories on Layoff News, articles on Layoff News, Layoff News stories at Wion, Layoff News news, Layoff News latest news