by: Elizabeth Balboa, Benzinga Staff Writer
General Motors Company GM confirmed Thursday that one of its sites would alter production schedule to accommodate fading demand.
“As a result of declining overall industry volumes, the Detroit-Hamtramck plant will be making schedule adjustments to keep supply and demand in balance,” GM told Benzinga in a statement. “Effective October 20, the plant will operate under a reduced production schedule. This action will help maintain more stable production.”
The plant in question contributes to the production of four low-demand vehicle models and already suffered hundreds of layoffs this year with the elimination of evening work shifts.
The Wall Street Journal had previously reported a six-week shuttering that would have idled about 1,500 assembly workers from November through the end of the year and paved the way for permanent scale backs. The plant was then to see a permanent, 20-percent production cut and 200 layoffs, according to the plan outlined by WSJ sources.
© 2017 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.