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.
GM gives up on loss-making Cruise robotaxi business
General Motors is giving up on its Cruise robotaxi business. The auto giant said Tuesday that it would end development at the loss-making unit, which had once been a top priority. GM said too much time and resources would be required to make Cruise a success.
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 ...
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All told, the General Motors-owned business let go about 50% of its workforce, Cruise spokeswoman Sara Autio said in an emailed statement. That figure includes employees based in ...
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