07:16 AM EDT, 08/13/2024 (MT Newswires) -- General Motors ( GM ) has been dismissing employees in China and reducing its staff in Chinese market-related departments, including research and development, as part of a structural overhaul of its operations in the country, Bloomberg News reported Tuesday, citing people familiar with the matter.

The automaker will continue to make less expensive vehicles and electric vehicles in a joint venture with SAIC Motor and Wuling Motors, but is considering a reduction in production capacity, according to the report.

The company did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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