General Motors’ ambitious Bloomberg report on Thursday.division will lay off 8% of its workforce, according to a
The company, whichlast year, will focus the redundancies largely on departments outside of engineering and development. Cruise did not immediately return Roadshow’s request for comment.
According to Bloomberg’s count, the company employs 2,000 workers, meaning around 160 of them will be laid off. Those affected will receive transitionary assistance and health care benefits for the remainder of the year, according to an email memosent.
General Motors Cruise AV is more than a Bolt without a steering wheel
“These changes are the right choice for the mission,” the memo reportedly read.
The self-driving technology division is worth around $19 billion and has received investment from companies likeand Japan’s SoftBank vision fund. The company showed its purpose-built ride-hailing vehicle, the , in January but hasn’t deployed any sort of self-driving ride-hailing service to date. The company originally targeted a date for sometime in 2019 but GM pushed plans back and hasn’t set a new target since.