AUTOS

GM Lays Off 1,050 in Brazil: The company’s Brazilian subsidiary laid off the workers as a result of a sharp drop in sales, a General Motors Corp. spokesman said. The cuts, involving assembly line workers at its two plants in the state of Sao Paulo, reduced GM’s work force to about 22,500. Between June and July, GM’s sales in Brazil plummeted 36.2%, according to the latest figures released by the National Assn. of Automotive Manufacturers. The auto maker said that despite the drop, it still plans to invest $2 billion through 1998.