GM's Cruise laying off 900 employees, or 24% of its workforce: Read the memo here
Publishing timestamp: 2023-12-14 11:41:44
Summary
General Motors' Cruise announced that it will lay off 900 employees, or 24% of its workforce, following an incident in which a pedestrian was dragged by one of its self-driving cars. The layoffs primarily affected commercial operations and related corporate functions. The company has suspended all trips on public roads and halted production of new robotaxis. The layoffs come after the dismissal of nine "key leaders" for the company's response to the incident. Cruise's goal now is to work on fully driverless service and relaunch ride-hailing in one city.
Sentiment: NEGATIVE
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Keywords: business news, layoffs, technology, business, autos, breaking news: business, personnel, general motors co, breaking news: technology, transportation, labor economy,
Source: https://www.cnbc.com/2023/12/14/gms-cruise-laying-off-900-or-24percent-of-its-workforce.html