Cruise to slash workforce by nearly 50% after GM cuts funding to robotaxi operations
In June 2024, GM injected another $850 million into Cruise, bringing its total spend on the company since acquiring most of Cruise’s shares in 2016 close to $10 billion. In September, Elshenawy, president and chief technologist of Cruise, threw a huge party for Cruise staffers that some read to be a sign that the company was moving forward.
Cruise held an all-hands meeting today, in which it announced that GM had acquired full control of the company. A ...
GM said on Tuesday it had completed the full acquisition of its Cruise business to focus on developing autonomous technology ...
Cruise is laying off about 50% of its workforce, affecting nearly 1,000 employees, as GM shifts focus to other automotive ...
General Motors on Tuesday completed its acquistion of the Cruise autonomous vehicle unit, laying off half the workforce. The ...
General Motors expects to save up to $1 billion annually by ending its Cruise robotaxi development program, CEO and Chair ...
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