GM cuts 50% of Cruise staff after ending robotaxi business
Posted: Feb 04, 2025
- General Motors (GM) is laying off roughly half of its employees at its discontinued Cruise robotaxi business
- GM decided to stop funding Cruise after spending over $10 billion on the unit since acquiring it in 2016
- Layoffs come after shift in strategy away from ride-hail business to providing autonomous vehicles to customers
- Executives departing including CEO, chief human resources officer, chief safety officer, and chief government affairs officer
- Remaining employees given 60 days' notice and will receive full base pay and severance packages
- Cruise now focusing on personal autonomous vehicles rather than robotaxis
- Previous culture issues and regulatory oversights stemming from 2023 accident led to the end of commercial operations for Cruise
- Cruise was once considered a leader in the business along with Alphabet-backed Waymo
Stay ahead of the market with AI stock alerts & AI summaries of the latest earnings, stock ideas for free with Fluid Bot. Sign up now!