General Motors announced Tuesday it is laying off approximately 50% of the remaining employees at its Cruise Robotaxi division.
The decision follows GM's announcement two months ago to cease funding the autonomous vehicle unit, citing a highly competitive market and shifting capital priorities.
Cruise, which GM acquired in 2016, cost the automaker over $10 billion. Once employing 2,300 staff, the unit will now face a significant reduction as GM integrates it as a wholly owned subsidiary.
