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 ...
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General Motors takes full control of Cruise robotaxi ventureGeneral Motors (GM) has completed its acquisition of Cruise, the autonomous vehicle business, as part of a strategic pivot to ...
General Motors expects to save up to $1 billion annually by ending its Cruise robotaxi development program, CEO and Chair ...
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