Cruise has quickly gone from one of GM's greatest business opportunities to a massive liability.
General Motors (GM) will be laying off about 1,300 workers at two plants in Michigan. The move comes after GM announced it would be delaying the production of its electric pickup trucks to 2025.
General Motors (NYSE: GM ) layoffs are a hot topic on Friday as one of the big three automobile manufacturers in the U.S. announced new job cuts. Two new filings from General Motors with the Michigan
General Motors Company (NYSE:GM) will be laying off about 1,300 workers at two of its Michigan manufacturing plants early in the new year, the automaker said on Thursday. At its Orion Assembly plan
Economic growth is set to slow, the excitement around electric vehicles is cooling and the company just got through a protracted labor dispute earlier this year.
Ford and GM anticipate costs increasing $8.8 billion and $9.3 billion, respectively. Labor costs aren't as big a factor as they were in the past.
According to filings Thursday with state regulators, the automaker will lay off 945 workers at its Lake Orion, Mich., facility, and 369 at its Lansing Grand River assembly/stamping plant.
GM plans to lay off about 1,300 workers in Michigan early next year due to vehicles they produce ending production, the company disclosed in state documents.

GM Shares Jumped More Than 6%—Here's Why

05:55pm, Thursday, 14'th Dec 2023
GM (GM) shares jumped more than 6% Thursday after it said it would slash jobs at its autonomous vehicle division, Cruise, following an accident that led regulators to shut down the robo taxi service.
General Motors said on Thursday it is laying off 1,300 workers at two Michigan auto factories in early January.

Why Tesla's Cheap (2024 Outlook)

02:17pm, Thursday, 14'th Dec 2023
Investors using traditional valuation metrics to value Tesla are missing the point. As the automotive landscape continues to evolve toward electric vehicles, Tesla's innovative approach and global exp
While shares of legacy automaker General Motors (NYSE: GM ) popped conspicuously higher, the underlying news wasn't great for employees of Cruise, GM's subsidiary that focuses on developing autonomous
General Motors Company's (NYSE:GM) Cruise robotaxi division has laid off 24% of its workforce, just one day after nine Cruise executives were dismissed following the start of a probe into the safety
General Motors' troubled Cruise autonomous vehicle unit is cutting over 900 jobs, about a quarter of its workforce, as it moves to reduce costs and remake itself after a series of safety problems in S
General Motors' troubled Cruise autonomous vehicle unit is cutting over 900 jobs, about a quarter of its workforce, as it moves to reduce costs and remake itself after a series of safety problems in S
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