About: http://data.cimple.eu/news-article/0a27b0091f6c36ca50caa5338c35fe8565eead10be223cb908594b56

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About: http://data.cimple.eu/news-article/0a27b0091f6c36ca50caa5338c35fe8565eead10be223cb908594b56 Goto Sponge NotDistinct Permalink

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rdf:type	schema:NewsArticle
schema:articleBody	Auto giant General Motors (GM), the main shareholder in autonomous car company Cruise, confirmed Friday that the business will cut 160 jobs, or eight percent, of its workforce. "It was a very prudent action," GM chief Mary Barra told an online conference organized by Bank of America, noting that the layoffs will not involve technical staff dedicated to the company's mission of developing self-driving vehicles. "They've grown very quickly," she said of Cruise, which employs 2,000 workers largely in the San Francisco Bay Area. GM bought Cruise Automation in 2017, and Cruise was spun out as a separate company in May 2018. GM is Cruise's main investor and an important partner. SoftBank, Honda and asset management company T. Rowe Price are also Cruise backers. Workers who lose their positions will receive transition assistance and health care benefits for the remainder of the year, according to an email memo from Cruise CEO Dan Ammann. Despite the cuts, Barra said the manufacturer remains committed to autonomous technology, which also can be used to deliver packages. "We are full speed ahead," she said. GM had stockpiled cash ahead of the pandemic and was the only one of the "Big Three" carmakers to turn a profit in the first three months of the year. US production is scheduled to resume Monday. str/jum/vog/cjc/dho/st/acb
schema:headline	GM chief confirms job cuts at autonomous car company Cruise
schema:mentions	Full Speed (album) Big Three television networks Mary Barra Self-driving car Honda General Motors Barra San Francisco Chief executive officer Pandemic Cruise (autonomous vehicle) Dan Ammann Asset management Vog SoftBank Group Cricket Australia
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-16 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	negative sentiment
http://data.cimple...readability_score	73 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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