It's hardly unexpected given recent gloomy sales numbers, but General Motors announced today that they will be cutting shifts at several North American plants. Unfortunately, nearly 2,000 workers will lose their jobs in the process as GM eliminates its third shift to slow production and ease the backlog of vehicles sitting on dealer lots. The affected plan
The 10-day strike between American Axle & Manufacturing Holdings Inc. and the United Auto Workers union is now threatening to idle or partially shut down 13 more GM plants as early as Monday. Although talks are underway again, even a resolution over the weekend may mean closures as it takes time to deliver inventory and ramp up production. As of now, seven assembly plants at GM have already been idled after Michael Harley
Idling seven factories will push Ford's restructuring costs up to a total of $3.4 billion (before taxes) for the year. The figure includes over $2.1 billion associated with early retirement packages, layoffs, and pension issues, as well as $280 million to close the plants.