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GM Generali

23.39
-0.09 (-0.38%)
16 Jul 2024 - Closed
Realtime Data
Share Name Share Symbol Market Type
Generali AQEU:GM Aquis Europe Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -0.09 -0.38% 23.39 23.40 23.41 23.435 23.07 23.31 202,898 16:50:17

GM Plans Work Stoppages At Three Mexican Plants

24/02/2009 1:17am

Dow Jones News


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General Motors (GM) said Monday it's planning several days of work stoppages at three of its plants in Mexico during March and April to adjust production for falling global demand.

At its plant in the central city of Silao, which produces the Chevrolet Avalanche, Cadillac Escalade and several models of extended-cab pickup trucks, General Motors will stop production for five days in March, officials told reporters during a conference call.

Production will also be halted for five days in March at General Motors' plant in the central city of Toluca, which has foundry operations and assembles engines and Chevrolet Silverado pickups.

At the auto maker's plant in the northern city of Ramon Arizpe, where more than 600 layoffs are scheduled to take place this month and next, General Motors plans to stop production for six days in March plus the entire week of Easter, in April.

The Ramon Arizpe facility produces the compact Chevrolet Chevy, as well as sport-utility vehicles Saturn Vue, Chevrolet HHR and Chevrolet Captiva Sport.

"In order to maintain a balance between production and inventories, we've had to adjust once again some of our operations at our Mexican facilities," said Hector De Hoyos, director of manufacturing for General Motors de Mexico.

The stoppages at the plants in Silao and Ramon Arizpe will result in output reductions of between 800 and 900 cars per day at each plant, De Hoyos said, though he declined to give production numbers for the Toluca plant.

Workers affected by the plant stoppages will receive half their salary and full benefits for the days they don't work, De Hoyos said, noting that General Motors has no future layoffs planned for any of its four Mexican plants.

General Motors also said it's applying for a program recently set up by President Felipe Calderon in which the government plans to help manufacturers pay workers during production stoppages in order to avoid layoffs.

-By Paul Kiernan, Dow Jones Newswires; (5255) 5001-5726, paul.kiernan@dowjones.com

 
 

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