General Motors (GM) recently let go of over 200 salaried employees, mainly from its Technical Center in Warren. This move came just days after the company raised its profit expectations for the year, which led to a significant boost in its stock prices. The company stated that these job cuts were due to "business conditions" and not the performance of the employees. ...
The CEO of General Motors, Mary Barra, started her quarterly letter to investors with a nod to President Trump. She thanked him for his backing of the U. S. auto industry. However, she later revealed a significant issue: the company expects to face a financial hit of $4 billion to $5 billion due to Trump's tariffs. This situation shows the tricky path GM must walk. ...
A significant recall has been announced by a major car manufacturer. Nearly 600, 000 trucks and SUVs are being called back due to a serious problem with their engines. The issue? These vehicles have V8 engines that can suddenly stop working, putting drivers at risk of a crash. This recall is happening because of a problem with how the engines were made. The connecti...
Imagine waking up one morning to find out that your company is cutting nearly half of its staff. That's exactly what happened to employees at Cruise, an autonomous vehicle company. Cruise announced massive layoffs, sending shockwaves through the company. The cuts are not just numbers; they include top executives like the CEO, Marc Whitten. The company's president and...
The past week has been filled with notable business news, from CEOs being fired to record-low interest rates and major mergers. Norfolk Southern CEO Alan Shaw was let go after an investigation found he violated company policies by engaging in a consensual relationship with the chief legal officer. This move comes as the company has been working to revamp its operatio...
As the global automotive industry is constantly evolving, two of the world's leading carmakers, Hyundai and General Motors (GM), have agreed to join forces in an effort to accelerate innovation and cut costs. The historic collaboration aims to develop new vehicles, streamline supply chains, and foster the advancement of clean energy technologies. With the ever-increa...
Goldman Sachs is set to take a $400 million pre-tax hit in the third quarter due to the unwinding of its General Motors credit card platform and the sale of real estate loans. The bank is in talks to hand over its GM credit card business to Barclays, a deal that would see the transfer of roughly $2 billion in card balances. Goldman's foray into consumer banking has...