The new GM logo is seen on the facade of the General Motors headquarters in Detroit, Michigan, U.S., March 16, 2021. REUTERS/Rebecca Cook/File Photo Acquire Licensing Rights
General Motors (GM.N) has announced 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 approved a new labor deal through April 2028 on Monday, bringing an end to months of negotiations between the union and the automaker. This news comes as GM faces mounting troubles at its self-driving unit Cruise, which has lost more than $8 billion since 2017, including $728 million lost in the third quarter of this year, according to GM financial disclosures.
Reporting by David Shepardson