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Cruise To Slash Workforce By Nearly 50% After GM Cuts Funding To Robotaxi Operations

3 months 1 week ago
Autonomous vehicle company Cruise will lay off about half of its 2,100 employees and remove several top executives, including CEO Marc Whitten, as parent company General Motors shifts away from robotaxi development to focus on personal autonomous vehicles. The cuts come two months after GM said it would stop funding Cruise's robotaxi program to save $1 billion annually. Affected workers will receive severance packages including eight weeks of pay and benefits through April. The restructuring follows an October incident where a Cruise vehicle dragged a pedestrian, leading to the suspension of its permits.

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Panasonic To Cut Costs To Support Shift Into AI

3 months 1 week ago
Panasonic will cut its costs, restructure underperforming units and revamp its workforce as it pivots toward AI data centers and away from its consumer electronics roots, the company said on Tuesday. The Japanese conglomerate aims to boost profits by 300 billion yen ($1.93 billion) by March 2029, partly by consolidating production and logistics operations. Bloomberg reports that CEO Yuki Kusumi has declined to confirm if the company would divest its TV business but said alternatives were being considered. The Tesla battery supplier plans to integrate AI across operations through a partnership with Anthropic, targeting growth in components for data centers.

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