General Motors (GM) unveiled its new logo on the facade of its headquarters in Detroit, Michigan on March 16, 2021. This rebranding marks a significant change for the company as it moves forward into the future.
Following the ratification of new labor agreements in the United States and Canada, GM announced that it will hold a business update on November 29. GM CEO Mary Barra and CFO Paul Jacobson will be leading a conference call with analysts to discuss the company’s future plans and developments.
The United Auto Workers union recently approved a new labor deal with GM through April 2028, indicating a positive development for the company’s workforce. However, GM is also facing challenges with its self-driving unit Cruise, which has incurred significant losses totaling over $8 billion since 2017. The company disclosed a loss of $728 million for Cruise in the third quarter of this year.
These developments highlight both the positive and negative aspects of GM’s current situation as they navigate labor agreements and financial challenges.