GM to shut down many plants up to nine weeks
General Motors will close most of its U.S. factories for up to nine
weeks this summer because of slumping sales and growing inventories of
unsold vehicles, two people briefed on the plan told the Associated Press.
Details on exactly when the shutdowns would occur were not known, but
both sources said they will include the normal two-week closure in July
to change from one model year to the next. Neither person wanted to be
identified because workers have not been told of the shutdowns.
GM operates a pickup- and SUV-assembly plant in Shreveport. Demand for
those vehicles, as with other GM lines, is way down.
GM spokesman Chris Lee would not comment other than to say the company
notifies employees before making any production cuts public.
GM is living on $13.4 billion in government loans and faces a June 1
deadline to restructure or seek bankruptcy protection.