General Motors ( GM) has announced plans to lay off approximately 1,000 employees worldwide as part of a plan to reduce fixed costs by $2 billion by the end of 2024. The cuts will primarily impacting white-collar workers in the United States.

General Motors cut a total of about 1,000 salaried and hourly employees early Friday morning as part of ongoing restructuring. The move comes after the firm reduced its electric-vehicle production and adopted a new salaried employee ranking system to classify workers by their productivity earlier this year.