{"id":11429,"date":"2023-12-14T20:39:59","date_gmt":"2023-12-14T20:39:59","guid":{"rendered":"https:\/\/connectwithfund.com\/business\/gm-self-driving-arm-cruise-is-laying-off-24-of-its-workforce\/"},"modified":"2023-12-14T20:39:59","modified_gmt":"2023-12-14T20:39:59","slug":"gm-self-driving-arm-cruise-is-laying-off-24-of-its-workforce","status":"publish","type":"post","link":"https:\/\/connectwithfund.com\/?p=11429","title":{"rendered":"GM self-driving arm Cruise is laying off 24% of its workforce"},"content":{"rendered":"
\n

\n General Motors\u2019 beleaguered self-driving car subsidiary Cruise said Thursday that it was laying off roughly a quarter of its workforce, after months of turmoil and years of financial losses.\n <\/p>\n

\n The job cuts will impact approximately 900 of the company\u2019s full-time staffers, and mostly workers in commercial and corporate operations, according to a company statement shared on Cruise\u2019s website.\n <\/p>\n

\n In October, a driverless Cruise vehicle hit a pedestrian in downtown San Francisco who had already been struck by another vehicle, and then dragged the pedestrian along the road for some 20 feet. In the wake of the incident, California regulators suspended Cruise\u2019s driverless taxi testing permits. When revoking Cruise\u2019s permits, the California Department of Motor Vehicles also accused the company of withholding information and video regarding the accident.\n <\/p>\n

\n Shortly after that, Cruise voluntarily paused its operations across the country.\n <\/p>\n

\n \u201cWe knew this day was coming, but that does not make it any less difficult \u2014especially for those whose jobs are affected,\u201d Mo ElShenawy, president and chief technology officer at Cruise, wrote in <\/strong>a memo to employees announcing the layoffs. The note added impacted employees will receive an email \u201cin a few moments\u201d letting them know whether they are \u201caffected by this staffing reduction.\u201d\n <\/p>\n

\n ElShenawy added the the company has the goal of \u201csimplifying and focusing our efforts to return with an exceptional service in one city to start with,\u201d though he did not share further details on which city Cruise is planning on returning to once it resumes operations. The company operated cars in San Francisco, Phoenix, and Austin, Texas.\n <\/p>\n

\n The laid-off employees will remain on payroll through February 12, the memo added, and are eligible for up to an additional eight <\/strong>weeks of severance pay, depending on how long they have been at the company.\n <\/p>\n

\n In late November, GM said it was cutting spending on Cruise. \u201cWe expect the pace of Cruise expansion to be more deliberate when operations resume and spending will be substantially lower in 2024 than it was in 2023,\u201d GM chief executive Mary Barra said at an investor event.\n <\/p>\n

\n Thursday\u2019s layoffs also come after a major leadership shakeup at Cruise on Wednesday, according to Reuters, which <\/strong>saw the departure of nine executives, including its chief operating officer.\n <\/p>\n<\/p><\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

General Motors\u2019 beleaguered self-driving car subsidiary Cruise said Thursday that it was laying off roughly a quarter of its workforce, after months of turmoil and years of financial losses. The job cuts will impact approximately 900 of the company\u2019s full-time staffers, and mostly workers in commercial and corporate operations, according to a company statement shared on Cruise\u2019s website. In October, a driverless Cruise vehicle hit a pedestrian in downtown San Francisco who had already been struck by another vehicle, and then dragged the pedestrian along the road for some 20 feet. In the wake of the incident, California regulators suspended<\/p>\n","protected":false},"author":1,"featured_media":11430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[],"class_list":["post-11429","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"yoast_head":"\nGM self-driving arm Cruise is laying off 24% of its workforce | ConnectWithFund<\/title>\n<meta name=\"description\" content=\"General Motors\u2019 beleaguered self-driving car subsidiary Cruise said Thursday that it was laying off roughly a quarter of its workforce, after months of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/connectwithfund.com\/?p=11429\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" 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