GM’s Cruise to cut workforce by 24%

General Motors (GM) to cut 1,314 jobs across two Michigan plants

December 15, 2023 8:39 AM EST

Detroit 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

GM to lay off 1,300 workers at two Michigan plants

December 14, 2023 5:23 PM EST

By David Shepardson

(Reuters) -General Motors said on Thursday it is laying off 1,300 workers at two Michigan auto factories in early January.

The largest U.S. automaker said 945 workers will be laid off at its Orion Assembly plant, which is ending production of the Chevrolet Bolt EV and being converted for electric truck production that will start in late 2025. Final production of the Bolt at Orion is set for next week, GM... More

General Motors (GM) option implied volatility low as share price up 4.9%

December 14, 2023 11:11 AM EST

General Motors (NYSE: GM) 30-day option implied volatility is at 27; compared to its 52-week range of 26 to 46 as share price up 4.9%.

... More

GM's (GM) Cruise laying off 900, or 24% of its workforce - CNBC

December 14, 2023 11:07 AM EST

GM's (GM) Cruise laying off 900, or 24% of its workforce - CNBC

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GM’s Cruise unit cuts nine executives as safety probe continues

December 14, 2023 10:30 AM EST

Reuters released a story Wednesday night reporting that General Motors' (NYSE: GM) Cruise robotaxi unit has dismissed nine key people.

Reuters reports seeing a memo, which the company confirmed, stating that nine people related to GMs autonomous taxi service have been released from the company amidst an ongoing safety investigation related to an Oct. 2... More

GM's Barra reboots her 10-year effort to lift stagnant shares

December 14, 2023 6:08 AM EST

By Joseph White

DETROIT (Reuters) - General Motors CEO Mary Barra has made many bold moves during a decade on the job to lift the automaker's share price: jettisoning money-losing operations in Europe, promising to outsell Tesla in the electric-vehicle market and betting billions on developing a profitable robotaxi business.

Investors are unmoved. GM shares are trading close to the $33 a share at which they went public in 2010 following the company's government-financed bankruptcy. Since hitting $63 a share in November 2021, GM shares have fallen 47%.

Warren Buffett's Berkshire Hathaway sold all its GM shares without explanation during... More

GM's Cruise Robotaxi Unit Dismisses Nine People after Safety Investigation - Reuters

December 13, 2023 5:30 PM EST

(Updated - December 13, 2023 5:31 PM EST)

GM's Cruise Robotaxi Unit Dismisses Nine People after Safety Investigation - Reuters

Cruise dismissed nine key people amid an ongoing safety investigation, a spokesperson for Cruise confirmed on Wednesday.... More

General Motors (GM) Promotes Executives to Lead the Next Phase of the Company's Growth Strategy

December 13, 2023 9:15 AM EST

General Motors Co. (NYSE: GM) is making several changes to its product development team and creating a new role to oversee its global regions. These moves will streamline the organization, allow for faster implementation of new vehicle and technology programs, and accelerate the company's go-to-market strategies.

This realignment is driven by the retirement of Doug Parks, GM executive vice president of Global Product Development, Purchasing and Supply Chain, after a nearly 40-year career... More