GM to close Grand Rapids stamping plant

General Motors Corp. plans to close its Grand Rapids stamping plant by the end 2009, GM told workers today. The 73-year-old plant that stamps parts for SUVs is just the latest to fall under the axe as GM works to cut $10 billion in costs as part of a plan to have enough cash to sustain itself through the current economic downturn.

Earlier in the day, GM said it would accelerate the closure of its Janesville, Wis., plant to Dec. 23, more than a year earlier than originally planned.

Earlier this month, the company said it would accelerate to Dec. 23 the closure of its Moraine, Ohio, SUV plant.