Cruise, the autonomous vehicle subsidiary of General Motors, told staff on November 16th via email that the company's quarterly employee share-selling program is suspended. This follows an October incident where a Cruise robotaxi dragged and injured a pedestrian in San Francisco, which led to Cruise losing its permits to operate driverless vehicles in California. Cruise's suspension of the employee stock program this quarter could result in significant financial losses for long-term employees, potentially exceeding $100,000. Cruise surprised its employees with a company holiday on November 18th and early corporate bonuses, but rumors suggest it might also be a time for executives to strategize potential layoffs or operational adjustments.
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