The fallout from the incident continued with the resignation of Cruise's founders, Kyle Vogt and Dan Kan, and the firing of nine key leaders. GM announced cost-cutting measures at Cruise, resulting in the layoff of nearly a quarter of its workforce. The company is also facing potential fines of $1.5 million and additional sanctions for allegedly misleading the commission about the seriousness of the accident and its interactions with the commission. A hearing is scheduled for February 6.
Key takeaways:
- Cruise, a self-driving car company, has faced significant challenges following an incident in October where a driverless vehicle hit and dragged a woman in San Francisco, leading to the suspension of its permit to operate in the state.
- The company has since made efforts to restore public trust, including hiring a third-party law firm to review the incident, creating a chief safety officer role, and voluntarily pulling all its driverless operations across the country.
- Internal shake-ups have also occurred, with the resignation of founders Kyle Vogt and Dan Kan, the firing of nine key leaders, and the cutting of nearly a quarter of its workforce as part of cost-cutting measures by parent company GM.
- Cruise is facing potential fines of $1.5 million and additional sanctions, and is ordered to appear at a hearing in February for allegedly misleading the commission about the extent and seriousness of the October accident.