The US automaker, General Motors, announced this morning that it will either make production cuts or extend its normal holiday shutdown, in an effort to stay solvent.According to reports, production cuts could affect workers in up to 10 factories.
According to the United Auto Workers president in Lordstown, Ohio, workers at the Chevrolet Cobalt and Pontiac G5 facilities were told that their holiday shutdown has been extended to the end of January.
In the wake of the news that the US auto market has reached a 25-year low, the company also announcedit will make changes in five factories that to possibly increase production of certain models.
Earlier this week, the "Big Three" went to Washington seeking its own government bailout.Congress is demanding the automakers come up with detailed plans before they decide on the loans.