General Motors Company (NYSE:GM) has announced another round of GM layoffs.
The Michigan-based company announced on Tuesday that it would be reducing its workforce in its native state by 1,100 workers. This will mark the company’s fourth round of layoffs since November.
The third shift at GM’s Lansing Delta Township plant will be eliminated, which will affect workers who help to manufacture the company’s Chevrolet Traverse, the Buick Enclave and the GMC Acadia. The new version of the Acadia is being manufactured in a smaller plant in Spring Hill, Tennessee.
The Lansing plant will only have slightly above 2,000 workers as it currently has around 3,144 people on the job. GM recently announced that it was adding a $583 million investment in the plant to help build its new Traverses and Enclaves.
Overall, the four rounds of GM layoffs will cut 4,400 jobs. At the end of last year, the company had 105,000 workers on its payroll.
GM recently announced that it was selling some of its brands, including Opel and Vauxhall as part of a deal worth $2.3 billion. This will also include the company’s European operations from its Financial segment.
PSA Group will shell out roughly $1.38 billion for Opel and Vauxhall, which reported revenue of $18.75 billion during 2016. This will give PSA Group a 17% market share of the automotive industry in Europe.
GM stock fell 0.7% Tuesday.
