On May 15, General Motors fell 3.45% in regular trading, trading at $71.06 USD/share, with trading volume of $53.48 million. The decline comes amid continued pressure following the company's announcement of significant IT department restructuring.

General Motors confirmed the elimination of approximately 500 to 600 salaried employees, primarily concentrated at IT operations in Austin, Texas and Warren, Michigan. The layoffs represent over 10% of the department's total headcount. The move is part of a broader talent replacement strategy, phasing out workers whose skills no longer align with the company's direction while actively recruiting AI-native developers, data analysts, cloud engineers, and model training specialists. Since 2022, GM has cut approximately 11,000 white-collar positions in the U.S. as it reallocates resources toward high-priority projects including artificial intelligence and autonomous driving.

Within the Automobile Manufacturers sector, broad weakness persists. Among individual stocks, Tesla down 1.82%, Rivian Automotive down 3.67%, Ford down 1.04%, Li Auto down 3.71%, while Ferrari up 3.17%.

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