The Canadian Press

1992-02-24 | GM

Preview Clip

General Motors announced shutdowns that affected more than 16 thousand workers at 12 General Motors plants in Canada and the US. It was a desperate bid by GM to stem losses totaling 4.5 billion dollars in 1991. GM President Robert Stemple said 1991 was tough. (In the US, plants in Ohio, Michigan, New York and Indiana were slated to close. Cuts at GM's Canadian operations included a foundry and some engine production in St. Catharines, Ontario -- a loss of 23-hundred jobs. The other shoe in GM's massive restructuring plan fell in early December. Seven more US plants were mothballed. And GM said it's rear axle plant in St. Catharines would be closed if a buyer couldn't be found by the end of 1993. The plant employed 800 people.)

Date: 1992-02-24
Placeline: DETROIT, Michigan.
Source: The Canadian Press
Length: 22 seconds

Transcript Prediction: << 1991 saw the American automotive industry sustained Financial losses unparalleled in its history the challenges facing gonna Motors in 1991 or particularly cute in our primary North American Market what we anticipated a downturn during the war in the Middle East that dramatic loss of consumer confidence and reduce Automotive Sales or more persistent than expected >>