General Motors will reduce its headcount at the Singapore office, which serves as its headquarters for international operations. The news should come as little surprise given recent news that GM is pulling out of several international markets as the company looks to shift focus exclusively on profitable markets.
According to Reuters GM International will cut 90 jobs by the end of June from the Singapore office, with an additional 40 leaving by the end of the year. The cuts will reduce the GMIO staff to about 50 from 180 today.
The Singapore office currently has responsibility for overseeing India, Southeast Asia, Africa, South Korea and others. Earlier this month GM announced it plans to stop selling vehicles in India and South Africa, clearly yielding less work for those that work in the office overseeing those operations.
GM has previously announced the company intends to take a $550 million charge on its second quarter financials due to its actions associated with India, South Africa and Singapore.
All of these moves in international markets are efforts for GM to focus on its most profitable market sectors. As the company has to invest substantial amounts of capital in new technologies, such as electrification and autonomous vehicles, the company is having to prioritize investments into its legacy business of building and selling vehicles.