Automaker General Motors Co. (GM) plans to cut jobs at its South Korean operations in the first quarter of next year ahead of the withdrawal of its Chevrolet brand in Europe, media reported Tuesday.
GM Korea reportedly will implement a voluntary retirement scheme for about 6,000 office workers by the end of March, event though the targeted number of job cuts hasn't been determined.
GM Korea spokesman Park Hae-ho noted that the Korean unit's 10,000 factory workers aren't subject to this program, and those eligible to apply for the voluntary retirement program include about 2,500 research and design staff. In the past year, voluntary retirement program had resulted in about 250 job losses.
The move is said to be aimed at preparing for an expected output reduction as the company decided to end Chevrolet sales in Europe, a major destination for GM's Korean-made cars, within two years.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.