GM plans shutdown of more U.S. plants

DETROIT, Jan. 17 (UPI) -- General Motors Corp. says it anticipates more U.S. plant closings and plans to offer buyouts to its entire domestic work force.

Rick Wagoner, the chief operating officer, said in Detroit Thursday the moves are necessary to bring the No 1 automaker's production in line with declining demand for new cars and trucks in its home market.

About 46,000 of GM's 72,000 blue-collar workers will be eligible for a buyout, expected in April, Wagoner said.

Wagoner declined to say how many plants are ticketed for closing, but he said closures will include powertrain and stamping factories as well as assembly plants, the Detroit News reported.

Wagoner said GM has cut $9 billion in annual operating expenses and made measurable gains in the look and quality of its cars and trucks.