General Motors (GM.N) announced on Tuesday that it will hold a Nov. 29 business update 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 hold a conference call with analysts to discuss the updates.
The United Auto Workers union had previously announced that its members had approved a new labor deal through April 2028. This news comes as GM continues to face mounting troubles at its self-driving unit, Cruise. The company has lost more than $8 billion since 2017, including $728 million lost in the third quarter of this year, according to GM financial disclosures.
Despite these challenges, GM remains optimistic about its future prospects. The company has been investing heavily in electric vehicles and autonomous driving technology in recent years, and is expected to continue this trend in the coming years. Additionally, the new labor deals are seen as a positive step for both workers and management alike, as they provide greater job security and allow for continued growth and innovation within the industry.