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GM's money-losing robotaxi unit has been in turmoil for weeks. Cruise pulled all its U.S. vehicles from self-driving testing after California suspended its driverless testing permit following an October accident. The unit's CEO Kyle Vogt and co-founder Dan Kan both resigned last month.
General Motors (NYSE: GM) is set to lay off approximately 1,300 workers from its Orion Assembly and Lansing Grand River
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GM shares jumped after self-driving unit Cruise said it would cut 24% of its workforce as it redirects spending after an accident that led to regulators suspending its operations.
Cruise, the self-driving vehicle business majority-owned by GM, has revealed plans to cut 900 jobs, amounting to 24% of its workforce.
Also, Musk must testify again in the SEC's Twitter probe, and GM lays of workers at Michigan plants and Cruise.