G.M. Suspends Production Indefinitely and Cuts Paychecks

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Here’s what you need to know:General Motors announces further crisis measures.Wall Street shakes off record unemployment claims.Here’s what you need to know about Washington’s spending package.The last time jobless claims set a record, the economic shock wasn’t sudden.Hollywood lobbies hard for help from Washington.An F.A.Q. on the stimulus bill and your pocketbook.Catch up: Here’s what else is happening today.General Motors announces further crisis measures.

General Motors said on Thursday it would suspend production at its North American factories indefinitely, lay off 6,500 salaried employees and cut executive pay, signaling that the automaker believes that coronavirus will take a serious toll on its business.

“We are actively monitoring the situation and the possible impact of the crisis on consumer demand,” a G.M. spokesman, David Barnas, said. “When we can safely resume production, we will.”

G.M. and other automakers shut down their North American plants in the last few days in an effort to prevent the spread of the virus. Most had hoped to restart production next week, but have now scaled back those plans.

Ford Motor aims to restart production at several plants across the United States on April 14, and a plant in Mexico on April 6. Fiat Chrysler said its plants would stay closed until April 14, “dependent upon the various state stay-in-place orders and the readiness of each facility to return to production.” Toyota Motor said its North American plants would remain closed until at least April 17.

The United Automobile Workers union has been pushing G.M., Ford

Keep reading this article on The New York Times Business.

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