General Motors (GM) Lays Off NY Workers on Japan Effect

Almost 10 percent of the General Motors (NYSE:GM) work force at a plant in Buffalo, N.Y. will be laid off as a result of a part shortages coming from the effects of the earthquake in Japan.

Of the 623 workers at the New York engine plant, 59 will be laid off until further notice, according to GM spokeswoman Kim Carpenter.

GM also announced on Monday it was slowing down production at its Opel Corsa subcompact car in Europe because of a shortage of parts, closing down two of the three shifts at its Eisenach, Germany, plant and shutting another plant in Zaragoza, Spain. The Corsa is one of the smallest cars in Opel's lineup.

In the American scene, thoughts are GM is focusing on its more profitable vehicles and so will target those facilities not producing them before they shut down the others if they have to.

GM closed Monday at $31.28, falling $0.57, or 1.79 percent.