Cruise Suspends Employee Share Program, Citing Need to Revalue the Business - WSJ - The Wall Street Journal

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General Motors’ self-driving car unit Cruise has paused its U.S. operations after California regulators called its vehicles unsafe. WSJ reporter Ryan Felton explains what this decision means for the future of autonomous vehicles and rivals like Google’s self-driving unit Waymo. Photo: Elijah Nouvelage/Reuters

General Motors’ Cruise is suspending an internal program that allows employees to cash out shares in the driverless-car firm, citing the need to revalue the business after a pedestrian accident led it

to halt robotaxi services last month.

Cruise notified employees of the decision Thursday in an email from chief executive Kyle Vogt, which was reviewed by The Wall Street Journal. The autonomous-driving startup, majority owned by GM, told employees that the regular quarterly offer to sell shares would be canceled as it re-evaluates the program.