Mass layoff a la the CA WARN act: a layoff of 50 or more employees within any 30 day period (which would require 60 days advance notice in CA).
Resolves YES if layoff notice of 50 or more employees is given and reputably reported on between now and the end of 2023, even if the actual layoffs (60 days later) occur after the start of 2024.
Resolves NO at the start of 2024 if no layoffs have been announced or reputably reported.
Market ending in Q1 2024: https://manifold.markets/MingweiSamuel/will-cruise-give-notice-for-a-mass-267e7a048316
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Nine execs dismissed, only Gil West (Chief Operating Officer) and Jeff Bleich (Chief Legal and Policy Officer) named
From /u/LeoBrasnar
Wondering who those execs are. The list is incomplete so far:
Chief Operating Officer Gil West
Chief Legal and Policy Officer Jeff Bleich
Senior Vice President of Government Affairs David Estrada
Vice President of Global Government Affairs Prashanthi Raman
Cruise has said it will conduct layoffs later this month but on Tuesday declined to provide much detail to staff. It has stopped taking questions from staffers at all-hands meetings, previously a fixture.
https://www.reuters.com/business/autos-transportation/new-leader-gms-cruise-acknowledges-all-time-low-amid-safety-review-2023-12-05/
Market for ending after March 2024: https://manifold.markets/MingweiSamuel/will-cruise-give-notice-for-a-mass-267e7a048316
@MingweiSamuel Certainly would be a brutal holiday present to announce layoffs now, seems they might wait until 2024
Cruise announced layoffs of contract workers, which doesn't count as they are not technically employees, nor are they protected by the WARN act
And a humbled CEO Kyle Vogt confirmed to employees that the company will need to do layoffs.
... “But what I can do is commit to providing more details within the next three weeks. So, importantly that's not when layoffs would occur for full time employees, that's when we're going to give you an update on what that timeline might be.”
