General Motors (GM) announced today that it will hold a business update on November 29 following the ratification of new labor agreements in the United States and Canada. The company’s CEO, Mary Barra, and chief financial officer, Paul Jacobson, will host a conference call with analysts to discuss the updates.
The approval of the new labor deal through April 2028 is good news for GM as it signals a positive outcome for the automaker’s negotiations with its workers’ union. This new agreement is expected to help the company maintain its operations and continue to grow in North America.
However, GM also faces mounting troubles at its self-driving unit Cruise. According to recent financial disclosures, Cruise has lost more than $8 billion since 2017, including $728 million lost in the third quarter of this year. This raises concerns about Cruise’s future as a profitable business within GM.
Despite these challenges, GM continues to be one of the world’s largest automakers and remains committed to investing in innovation and growth across all aspects of its business.