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GMCuts 04-29

General Motors to lay off 3,550

DETROIT — The dwindling U.S. auto market and an accelerating shift from trucks to cars has brought grim layoff news to four General Motors Corp. factories.

The company announced that it plans to cut one shift each at pickup truck and large sport utility vehicle plants in Flint and Pontiac, Mich.; Janesville, Wis.; and Oshawa, Ontario, resulting in about 3,550 layoffs.

The world’s largest automaker by sales said the cuts, to take effect this summer, were brought on by weak demand due to high gasoline prices and an economic downturn.

GM said it will make about 88,000 fewer pickups and 50,000 fewer big SUVs this calendar year because of the cuts. The layoffs represent just over 4 percent of GM’s hourly manufacturing work force of about 80,000 in North America.

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The announcement came after stock markets closed. GM shares rose 56 cents, or 2.6 percent, to $21.94 Monday, then lost 3 cents in after-hours trading.

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