GM to cut production by 250,000 autos in early ‘09

General Motors Corp., which is involved in a last-ditch effort to garner federal funds to help it survive through January, confirmed this morning that it is slashing approximately 250,000 units of production in the first quarter by shutting down most North American assembly plants for about 30% of the first quarter. A GM spokesman would not say which plants have been affected, but said the company would likely make an announcement later today. More...