GM Extends Paid Leave For More Brazil Autoworkers To March 1
24 January 2009 - 5:46AM
Dow Jones News
General Motors (GM) said it extended paid leave to roughly 400
employees Friday as export demand for its cars grinds to a
halt.
A spokesman said that GM would extend its forced vacation for
the workers to March 1 in the company's export division in Sao
Paulo.
GM cited low demand for imported, unassembled, Brazilian-made
cars as a reason for the extra, forced holiday.
The global credit crisis hit Brazil's automakers in October, and
has since led to sharp declines in sales and layoffs across the
industry.
GM has not yet laid off salaried employees, but has cut its
temporary workforce and continues with its policy of paid leave in
an attempt to cut production without cutting full-time jobs.
GM is Brazil's No. 3 automaker behind Fiat and Volkswagen.
-By Kenneth Rapoza, Dow Jones Newswires, 5511-2847-4541,
kenneth.rapoza@dowjones.com
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