General Motors is expected to layoff approximately 4,000 employees this coming Monday. The cuts are part of a previously announced restructuring that will shed about 8,100 people from the company’s roster.
Multiple media outlets are reporting Monday’s plan, but the automaker has declined to confirm the reports. The reports suggest the cuts will start as early as 7:30 a.m. and continue in waves until GM hits its employee headcount target, as outlined in its restructuring plan. Some are referring to the beginning as “Black Monday.”
The company’s restructuring plan is slated to save the company about $2.5 billion in 2019 and as much as $6 billion in 2020.
GM is scheduled to release its full-year 2018 financial results on Wednesday.