GM Financial laid off approximately 400 employees worldwide on November 6, 2026, as part of efforts to improve operating performance. The company confirmed the cuts on November 10 and said affected workers were offered severance and career-transition support.
GM Financial, the automotive financing subsidiary of General Motors, operates internationally, including Canadian offices in Toronto, Peterborough and Vancouver. The company has not confirmed how many Canadian employees, if any, were affected.
If you’ve lost your job at GM Financial in Ontario, Alberta or BC, your severance could reach 24 months’ pay. Before signing a package, have our team review what you’re owed.
Latest GM Financial Layoffs: November 2026
On November 6, 2026, GM Financial cut approximately 400 positions across its global operations, according to GM Authority.
The reductions represent approximately 4.4% of the company’s workforce, which numbered around 9,000 employees at the end of 2025.
GM Financial said the decision was made to support operating performance. The company confirmed that it was providing severance and career outplacement resources to affected employees.
The company has not provided a breakdown of affected departments or locations. However, Auto Finance News reported that affected positions included compliance analysts and product managers.
Why is GM Financial cutting jobs?
The layoffs follow a weaker financial quarter for the company.
According to its October 20, 2026 financial results, GM Financial reported third-quarter net income of US$487 million, down from US$589 million a year earlier.
While GM Financial cited operating performance as the reason for its workforce reductions, it has not directly linked the layoffs to a specific financial result.
Are GM Financial employees in Canada affected?
GM Financial has not confirmed whether its latest layoffs include Canadian employees.
The company maintains offices in Toronto and Peterborough, Ontario, and Vancouver, BC, according to its Canadian careers website.
Non-unionized employees at these locations who lose their jobs may have substantial severance rights under Canadian employment law.
Severance Pay for GM Financial Employees in Canada
If you’re a non-unionized GM Financial employee who has been laid off or terminated without cause, you could be owed substantially more than the government’s minimum termination pay.
Severance can reach 24 months’ pay, depending on your:
- Age and length of service
- Position and responsibilities
- Availability of similar employment
- Employment contract and compensation
Your package may also need to account for bonuses, benefits, pension contributions and other compensation.
Provincial employment laws set minimum termination and severance requirements. Those minimums may be much lower than your full common-law compensation. Learn more about severance pay in Canada.
Before you sign, always check first. GM Financial’s initial severance offer may not reflect your full rights. An employer’s signing deadline isn’t the same as your legal deadline to pursue compensation.
What to Do If GM Financial Lays You Off
- Don’t sign immediately. A severance agreement could prevent you from pursuing additional compensation.
- Keep your documents. Save your employment contract, termination letter, severance offer and compensation records.
- Check your severance. Use the free Severance Pay Calculator to estimate what you could receive.
- Have your offer reviewed. Our employment lawyers can assess your package and deal directly with your employer.
GM Financial Layoffs: Frequently Asked Questions
How many employees did GM Financial lay off?
GM Financial cut approximately 400 employees worldwide in November 2026, representing about 4.4% of its workforce. The company has not disclosed how many employees were affected in each country.
Is GM Financial the same as General Motors?
No. GM Financial is the wholly owned automotive financing subsidiary of General Motors. Its November 2026 layoffs are separate from job cuts at the automaker’s manufacturing and corporate operations. Read our separate coverage of General Motors layoffs and severance pay.
Does GM Financial have to pay severance in Canada?
Non-unionized employees in Ontario, Alberta and BC who are terminated without cause may be owed severance beyond the government’s minimum requirements. The amount depends on their employment contract and individual circumstances.
Can GM Financial employees negotiate their severance?
Yes. An initial severance offer isn’t necessarily the full amount an employee is owed. Even if the company provides severance and career-transition assistance, employees should have their packages reviewed before signing a release.
How long do I have to claim severance?
Civil wrongful dismissal claims in Ontario, Alberta and BC typically have a two-year limitation period. Other claims can have shorter deadlines. Your employer’s deadline to accept an offer does not erase your legal rights, although the offer itself may expire. Get advice promptly.
Laid Off by GM Financial? Find Out What You’re Owed.
Samfiru Tumarkin LLP has helped more than 60,000 clients understand and protect their legal rights. If GM Financial has terminated your employment or offered you a severance package, our employment lawyers can review your situation and help you pursue the compensation you’re owed.
Before you sign, always check first.
Disclaimer: This article provides general information about the rights of non-unionized employees. It does not suggest wrongdoing by GM Financial or General Motors, or imply any relationship between those companies and Samfiru Tumarkin LLP.
Disclaimer: This article provides general employment law information, not legal advice about an individual case. GM Financial’s restructuring announcements do not establish that the company has violated any employee’s rights.