The new General Motors (GM) logo is seen on the facade of the GM headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo Acquire Licensing Rights
General Motors (GM) has announced that it will hold a business update conference call with analysts on November 29 following the ratification of new labor agreements in the United States and Canada. According to sources, this decision was made by GM CEO Mary Barra and chief financial officer Paul Jacobson.
The United Auto Workers (UAW) union had announced on Monday that its members had approved a new labor deal through April 2028. This news comes as GM continues to face mounting challenges at its self-driving unit Cruise, which has lost more than $8 billion since 2017, including $728 million lost in the third quarter of this year, according to GM financial disclosures.
Reporting by David Shepardson