Honda (NYSE:HMC) layoffs are coming to China as the automotive company using a voluntary program to reduce its headcount overseas. These Honda layoffs are happening at GAC Honda Automobile. This is a joint venture between the automotive company and the state-owned business GAC Group. The current voluntary layoffs include 1,400 employees or 14% of the joint venture’s total workers. The reasons for these layoffs are increasing competition and declining sales in China. That has Honda expecting 2024 vehicle sal ...