General Motors to idle Fairfax plant, 4 others; Wentzville not affected

General Motors will temporarily close its Fairfax assembly plant in Kansas City, Kansas, and four other factories next month as it tries to reduce a growing inventory of cars on dealer lots. The automaker’s plant in Wentzville will remain open.

The factories will close anywhere from one to three weeks because of the continuing U.S. market shift toward trucks and SUVs, spokeswoman Dayna Hart said. Just over 10,000 workers will be idled.

The Fairfax plant, which has more than 3,000 employees, builds the Chevrolet Malibu and Buick LaCrosse.

Workers at the plants will get company supplemental pay and unemployment benefits that add up to most of their pay.

Several Wall Street analysts, including Brian Johnson of Barclays, have said that if GM plants close to level out its inventory, it would pressure GM shares.

Read more: Kansas City Star, St. Louis Post-Dispatch

 


Tags:, , , , ,

Leave a Reply

Have you heard?

Missouri Business Alert is participating in CoMoGives2019!

Find out how we plan to use your gift to enhance training and programming for our students