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Official: GM To Close Factories For 9 Weeks

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Apr 22, 2009 5:28 pm US/Central

Official: GM To Close Factories For 9 Weeks

DETROIT (AP / CBS 11 NEWS) ― Two people briefed on the plan say General Motors Corp. 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.

The people did not know exactly when the shutdowns would occur, but both say 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.

Wendi Sabo, a spokeswoman for the Arlington GM plant, told CBS 11 News in an email that she has not been told whether the shutdown will affect local workers.

At certain times in the past when GM has shut down some of its plants, the impact on the Arlington facility was less than at other factories.

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.

Earlier Wednesday, a GM spokeswoman said the company would likely miss a $1 billion debt payment due on June 1.

Click here to check GM's current stock price.

(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)

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