General Motors' autonomous subsidiary Cruise LLC announced on Thursday that it plans to lay off 24% of its full-time employees due to the company's "decision to slow down commercialization."
"We are reducing our employee counts in operations and other areas. These impacts are largely outside of engineering, although some Tech positions are impacted also," the firm's President Mo ElShenawy.
Additionally, the executive said that all affected workers will receive their 2023 bonus in January 2024 and "will remain on payroll through Feb. 12 and are eligible for an additional 8 weeks of pay."
