News » Local

GM extends holiday shutdown, to cut production

By Peter Neumann
June 18, 2010 Updated Nov 21, 2008 at 7:03 PM EST DETROIT (AP) - General Motors is telling workers that it will extend its holiday shutdown or make other production cuts at up to 10 factories. It is fighting to stay solvent in the face of a huge slump in U.S. sales. No job cuts have been announced for Fort Wayne's truck assembly plant.

Union officials were told of the plans this morning.

GM and its Detroit counterparts are seeking billions of dollars in loans from the federal government. Congress is requiring the automakers to demonstrate plans to become viable before it will decide on the loans.

GM has announced thousands of factory layoffs so far this year and is cutting salaried staff. It has said it could run out of cash by the end of the year.

(Copyright 2008 by The Associated Press. All Rights Reserved.)



What are your thoughts CLICK HERE to leave us a "Your2Cents” comment.

Want to be in the know for the next weather event, the next school closing or the next big breaking news story?

TextCaster alerts from Indiana's NewsCenter are your defining source for instant information delivered right to your cell phone and email. It's free, easy and instant. Sign-Up Now!
Powered by Summit City Chevrolet



© Copyright 2011 A Granite Broadcasting Station. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

To submit a comment on this article, your email address is required. We respect your privacy and your email will not be visible to others nor will it be added to any email lists.