GM laying off nearly 1,000 workers, most in US, source says

(Reuters) – General Motors (NYSE:GM) is laying off nearly 1,000 workers worldwide, most in the U.S., as it looks to streamline operations, a source told Reuters on Friday.

GM confirmed in a statement it had made job cuts.

“In order to win in this competitive market, we need to optimize for speed and excellence,” the Detroit automaker said. “As part of this continuous effort, we’ve made a small number of team reductions.”