GM to eliminate Executive, Salaried jobs

Photo by: General Motors
Photo by: General Motors

(Detroit, MI) -- General Motors will be cutting approximately 500 jobs on the executive and salary level.

The announcement comes one month after CEO Mary Barra said the automaker was "not planning layoffs."

A statement released by GM says the move affects a "small number" of employers and executives globally. GM did report a strong profit, but some believe the cost of producing electric vehicles is forcing GM to make adjustments.

The company expects to spend between eleven and 13-billion dollars on EVs this year.