

DETROIT, April 29 (UPI) -- General Motors Corp. announced the move toward more fuel efficient cars would cost employees 3,500 jobs at four North American car plants.
The cuts include scaling back production by 50,000 SUVs and 88,000 pickup trucks, The Detroit News reported.
The company will cut back one shift at four different locations, the News reported Tuesday.
A shift would be lost at Flint and Pontiac, Mich.; Oshawa, Ontario; and Janesville, Wis., the report said.
The cut backs start July 14.
Auto analyst Joe Phillippi of AutoTrends Consulting Inc. lamented the decision to scale back on bigger vehicles. "These are the most profitable things they make," he said.
Phillippi told the News the lost of revenue from the switch "is going to hurt for the next three quarters."
In 2007, GM built 2.7 million trucks.
|
|
|
|
|
|
| Additional Business News Stories | |
HAVANA, May 25 (UPI) --
Cuba is reportedly sitting on vast underwater oil and gas reserves, but none came up in the latest exploration, a joint Chinese-Spanish undertaking.
|
LONDON, May 25 (UPI) --
Military pilot training and training aircraft were in the news this week, with European companies reaping more than $3 billion in contracts.
|
First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
|
The photos are familiar, but the captions are not, as economic tension skips across the continent of Europe.
|
| Stories | Photos | People | Comments |
View Caption