GM will reduce its staff to about 50 from 180 by year end

GM will reduce its staff to about 50 from 180 by year end: As part of the efforts to reduce exposure General Motors will slash headcount at its international headquarters in Singapore. GM International -- which oversees markets such as India, Southeast Asia, and South Korea, among others -- will reduce its staff to about 50 from 180 by year end, according to a person with knowledge of the matter.

About 90 employees will leave the company by the end of June and 40 by the end of 2017. Last week, the company said it would take a $500 million charge in the second quarter to restructure operations in India, Africa and Singapore. The company plans to stop selling Chevrolet brand vehicles in India by the end of the year and will produce vehicles in the country only for export.

Read more