“GM, which acquired Cruise in 2016, was rewarded by shareholders for the cutbacks. GM shares rose 4.8% to $35.64 following the news.”
A Cruise robotaxi dragged a pedestrian on October 2. Ten weeks later 900 people are out, mostly field operations and corporate staff, while engineering is “largely being preserved.” The nine senior leaders fired the day before at least ran the departments that failed. The workers who kept the cars on the road pay for a crash they did not code, and GM stock goes up 4.8%.