Cruise Suspends Employee Equity Program Amid Safety Crisis

The autonomous vehicle unit of General Motors faces ongoing scrutiny following a pedestrian accident, leading to a reevaluation of employee compensation packages.

Cruise, General Motors' autonomous vehicle unit, has suspended its employee equity program, which allowed employees to sell their vested equity back to GM.
The suspension comes amid an ongoing safety crisis at Cruise, following an incident in which a Cruise vehicle hit and dragged a pedestrian in San Francisco, leading to the California DMV revoking Cruise's operating permit.
Cruise has initiated an internal review of its response to regulators and its automated driving system following the incident.
Cruise has lost more than $8 billion since 2017, including $728 million in the third quarter of this year, according to GM financial disclosures.
GM and Cruise are currently working on what competitive compensation packages will look like going forward.