A Cruise self-driving car, which is owned by General Motors Corp, is seen outside the company?s headquarters in San Francisco, California, U.S., September 26, 2018.
In an email to staff seen by Reuters, Cruise CEO Kyle Vogt said the company will re-evaluate the employee equity program in light of the suspension, which "pushed out our commercialization and revenue generation timelines."
The regulator said Cruise had not initially disclosed all video footage of an Oct. 2 accident where Cruise's car dragged a pedestrian in San Francisco.
The unlisted Cruise unit last year introduced the equity program under which current and former employees can sell their vested equity to GM and other investors every quarter.
Asked about the Thursday's email from Vogt, a Cruise spokesperson said, "GM and Cruise are working together on what competitive compensation packages at Cruise will look like going forward."
Persons:
Heather Somerville, Kyle Vogt, Cruise, Sam Abuelsamid, Vogt, Hyunjoo Jin, Greg Bensinger, David Shepardson, Jonathan Oatis, Matthew Lewis, Daniel Wallis
Organizations:
General Motors Corp, REUTERS, General Motors, GM, Reuters, Cruise, California Department of Motor Vehicles, United Auto Workers, UAW, Thomson
Locations:
San Francisco , California, U.S, California, San Francisco, California , Arizona, Washington