Cruise announces layoffs as GM acquires defunct robotaxi company

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Defunct robotaxi company Cruise has begun to lay off employees today, sources tell The Verge. The layoffs come two months after General Motors said it would no longer fund Cruise, and would instead shift its spending toward advanced driver assist and personally owned autonomous vehicles.

Cruise held an all-hands meeting today, in which it announced that GM had acquired full control of the company. A spokesperson for Cruise said 40 percent of the workforce will be laid off.

Cruise employees have spent the last month in limbo, as senior leadership…



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Cruise announces layoffs as GM acquires defunct robotaxi company


Defunct robotaxi company Cruise has begun to lay off employees today, sources tell The Verge. The layoffs come two months after General Motors said it would no longer fund Cruise, and would instead shift its spending toward advanced driver assist and personally owned autonomous vehicles.

Cruise held an all-hands meeting today, in which it announced that GM had acquired full control of the company. A spokesperson for Cruise said 40 percent of the workforce will be laid off.

Cruise employees have spent the last month in limbo, as senior leadership…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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