Cruise Cuts 24% of Workforce Amid Robotaxi Fleet Grounding

Cruise, the self-driving unit of General Motors, is laying off nearly 900 employees, or 24% of its workforce, after grounding its fleet due to a hit-and-run incident. The California Department of Motor Vehicles suspended Cruise's permit to operate driverless cars, prompting GM to reduce spending on Cruise and appoint its own executives to oversee the company. Several top executives, including the CEO and chief product officer, have left the company. Cruise plans to relaunch its driverless ridehail operations in one city and prioritize the Chevy Bolt platform. GM expects to lose less money on Cruise going forward and believes fully driverless cars will scale faster than anticipated.