GM Announces Major Workforce Reduction at Cruise

In a significant move, General Motors (GM) has declared a substantial layoff, affecting about 50% of the remaining employees at its Cruise Robotaxi division. This decision comes in the wake of GM's earlier announcement to halt funding for the autonomous vehicle unit, pointing to a fiercely competitive market and a realignment of capital investment priorities.

Cruise, which GM took over in 2016, has been a costly venture for the automaker, with investments exceeding $10 billion. The division, once boasting a workforce of 2,300, is now set to undergo a significant downsizing as GM transitions it into a fully integrated subsidiary. This strategic shift underscores the challenges and high stakes in the autonomous vehicle sector, as companies navigate through technological advancements and market dynamics.