General Motors Stock News

General Motors is reportedly cutting 1,000 jobs in its Cruise business unit after a previously announced decision to stop funding its robotaxi project. The cuts amount to almost half of the workforce in Cruise, Bloomberg reported Tuesday (Feb. 4), citing an internal memo and unnamed sources.

General Motors is laying off roughly half of its employees who remain at its discontinued Cruise robotaxi business. The plans come two months after GM said it would no longer fund Cruise after spending more than $10 billion on the robotaxi unit since acquiring it in 2016.

General Motors has finalized the complete acquisition of its Cruise autonomous vehicle unit to focus on developing the technology for personal vehicles instead of on robotaxis, the company announced on Tuesday.

Autonomous vehicle company Cruise is laying off 50% of its workforce — cuts that extend to the CEO and several other top executives — as it prepares to shut down operations. What remains of Cruise will move under parent company General Motors as the automaker directs its resources towards improving its hands-free driver assistance system Super Cruise — and eventually roll out personal autonomou...

Dublin, Feb. 04, 2025 (GLOBE NEWSWIRE) -- The "Enterprise Tech Ecosystem Series: General Motors Company 2024" report has been added to ResearchAndMarkets.com's offering.

General Motors (GM -3.15%) recently announced better-than-expected guidance for 2025 and is now the No. 1 EV maker in the United States, besides Tesla (TSLA -5.17%).

It's almost hard to believe a little over a decade ago that automakers such as Ford Motor Company (F -1.88%) were grilled for not getting into China's booming automotive market sooner. China's market was finally supposed to turn into a second region that could rival the impressive profits found in North America; it was where automakers looked to for massive growth.

Trump tariffs over the weekend ignited a tit-for-tat trade war. But the U.S. said Monday that Mexico tariffs would be paused for a month.