SAIC Motor to Implement Significant Workforce Reductions at Major Ventures and Electric Vehicle Division
Sunday, 31 March 2024, 23:49
SAIC Motor Plans Massive Job Cuts in 2024
Overview:
SAIC Motor, a significant player in the Chinese automotive sector, intends to implement substantial job cuts at several key ventures, including partnerships with General Motors and Volkswagen, and its electric vehicle subsidiary.
Details:
- Scale of Reduction: 30% of SAIC-GM employees, 10% of SAIC Volkswagen staff, and more than half at Rising Auto EV are slated for layoffs.
- Reasons Behind the Decision: The cuts are attributed to the intense automotive price competition and the rise of electric vehicles in the Chinese market.
SAIC's Market Position: SAIC Motor, like other traditional manufacturers, faces challenges from Tesla and domestic Chinese competitors, including BYD.
Reuters' report on staff reductions was rebutted by a SAIC spokesperson, labeling it as speculative and inaccurate.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.