General Motors Corp. will close three vehicle assembly plants, two powertrain facilities and two stamping plants by 2008, plus close lines or curb shifts at three other assembly plants, slashing hourly employment by 30,000 workers and reducing annual North American capacity to 4.2 million cars and trucks. The new action plan comes under mounting pressure on GM Chairman and CEO Rick Wagoner to speed up his turnaround effort in the face of falling stock prices, financial reporting ...

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