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To: patron_anejo_por_favor who wrote (71405)	2/24/2001 2:08:36 AM
From: patron_anejo_por_favor	Read Replies (1) \| Respond to of 436258

Huge layoffs coming for GM as inventory builds: dailynews.yahoo.com Thursday February 22 5:13 PM ET GM to Trim Production by Idling 14 Plants DETROIT (Reuters) - General Motors Corp. (NYSE:GM - news), stuck with growing inventories amid slowing U.S. auto sales, said on Thursday it will trim vehicle production through a series of temporary shutdowns at 14 of its 29 North American plants through June. Several analysts have predicted cutbacks at the company, which is hoping to weather a U.S. economic slowdown after reporting a January inventory of nearly 100 days supply, higher than those of competitors Ford Motor Co. (NYSE:F - news) and the Chrysler unit of DaimlerChrysler AG (DCXGn.DE) (NYSE:DCX - news). The industry standard is 60 days. GM spokesman Tom Wickham declined to specify exact changes to GM's production forecast, saying the company will release the data on March 1. Specific schedules for the shutdowns would also be announced later, Wickham said. The temporary closings, he added, will affect 37,500 hourly workers and 3,000 salaried employees, or about 80 percent to 90 percent of the workers at each plant. GM also said a total of 10 North American plans will be down next week, idling 21,900 workers. The company employs a total of 170,000 hourly and salaried workers in North America. Hmmm, about 60,000 layoffs out of 170,000? That's about 35% of their workforce! No wonder McTeer wanted us to all go out and buy another SUV!<G> Of course, this production shutdown will affect their suppliers as well; Delphi to lay off 6,600 workers next week: quote.bloomberg.com