GM expected to start laying off about 4,000 workers on Monday
General Motors is expected to start laying off about 4,000 white-collar workers on Monday.
The cuts come after GM's November announcement of dramatic restructuring. Multiple media outlets are reporting these upcoming layoffs are fewer than initially thought.
David Kudla is the CEO of Mainstay Capital Management. He says GM bought out thousands of white-collar employees close to retirement.
GM is moving to more high-tech vehicles, Kudla says. He says that move, paired with "the cyclical downturn in the industry that they're getting in front of," has influenced the layoff decision.
GM is expected to release its fourth-quarter earnings report on Wednesday.
GM has not yet responded to a request for comment.