GM's new CEO, Fritz Henderson, last month. The company's former COO takes over from Rick Wagoner who was ousted by the Obama administration. (AP Photo/Carlos Osorio)

DETROIT -- General Motors Corp.'s new chief executive said Tuesday that more of the automaker's plants could close as part of GM's effort to meet new, tougher requirements for government aid, according to The Associated Press.

In his first press conference as CEO, Fritz Henderson said he expects the company would "need to take further measures" in terms of plant closures. That's beyond the five plants the company said it would shutter when it submitted a restructuring plan to the government last month.

GM is likely to offer another buyout program to workers as it looks to cut labor costs, Henderson said.

President Barack Obama said Monday that GM's plan didn't go far enough. The company has 60 days to make more cuts and get more concessions from bondholders and unions or it faces bankruptcy.