GM to lay off 1,300 workers at two Michigan plants
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- Wall St rises on the day but falls for the week; bond yields and Iran in focus
- UBS says bull market has further to run
- S&P 500 may pull back before midterms, but Citi says buy the dip
- Global yield relief evaporates as U.S. rates push back toward multi-decade peaks
- BofA's Hartnett sees dollar slump, risk selloff if bond intervention fails
- Applied Optoelectronics sets up $600M at-the-market stock offering
- Fannie Mae loses at least 10 senior executives amid departures - WSJ
- Wall Street sinks as bond yields rise, Walmart results disappoint
- Supermicro probe finds no senior management link to export violations
- Wolfe remains "broadly bullish on AI semis stocks", names Top Pick
GM’s Cruise to cut workforce by 24%
December 15, 2023 9:07 AM ESTCruise, the self-driving vehicle division of General Motors (NYSE: GM), announced Thursday that the company will reduce its workforce by 24% as part of a restructuring effort following a recent accident that led to the suspension of U.S. testing.
The upheaval within GM's money-losing autonomous taxi unit has been ongoing for several weeks. Following an October accident that prompted California to suspend its driverless testing permit, Cruise withdrew... More
General Motors (GM) to cut 1,314 jobs across two Michigan plants
December 15, 2023 8:39 AM ESTDetroit automaker, General Motors (NYSE: GM) is set to lay off 1,314 employees across two Michigan factories. This move comes as the company prepares up to cease production of its Camaro muscle car and adjusts the start time of electric truck production.
GM filed a WARN notice on Thursday indicating a reduction of 945... More
