GM sees $9.3-B hit from labor deals, outlines $10-B buyback

GM sees $9.3-B hit from labor deals, outlines $10-B buyback

General Motors said on Wednesday its new labor deals after a lengthy U.S. strike will cost it $9.3 billion even as it outlined $10 billion in share buybacks, a 33 percent dividend increase and “substantially lower” spending at its robotaxi unit Cruise. The buyback is the equivalent at Tuesday’s closing price to nearly a quarter of GM‘s common stock. Its shares were down about