GM Announces Business Update on November 29 Following UAW Contract Agreement

On March 16, 2021, the new GM logo was seen on the facade of the General Motors headquarters in Detroit, Michigan. The logo change is a significant milestone for the company as it marks a new chapter in its history.

General Motors (GM.N) announced today that it will hold a Nov. 29 business update following the ratification of new labor agreements in the United States and Canada. During the conference call with analysts, CEO Mary Barra and CFO Paul Jacobson will discuss the company’s financial performance and future plans.

On Monday, November 29th, members of the United Auto Workers union approved a new labor deal through April 2028. This agreement will provide job security and benefits to workers at General Motors plants across North America.

The automaker’s self-driving unit Cruise continues to face mounting challenges as it has lost more than $8 billion since 2017, including $728 million lost in the third quarter of this year. The financial disclosures show that Cruise has been struggling to find profitability despite significant investments in research and development.

The successful ratification of labor agreements and continued innovation at General Motors are two examples of how companies can navigate complex business environments and adapt to changing market conditions.