General Motors is laying off nearly 1,000 workers worldwide, mostly in the U.S., as it looks to streamline operations, a source told Reuters on Friday.

General Motors (GM) has announced plans for another round of workforce reductions. According to the company's statement issued to AP, GM intends to lay off approximately 1,000 employees as part of an effort to "optimize for speed and excellence" across its operations.

General Motors is laying off about 1,000 workers worldwide, shedding costs as it tries to compete in a crowded global automobile market.

General Motors Co. will cut about 1,000 salaried workers globally in a move to streamline its operations, according to people familiar with the matter.