GM Canada to cut about 1,000 jobs at Oshawa plant
TORONTO (Reuters) - General Motors Co (GM.N: Quote) will eliminate one shift at its Oshawa, Ontario, assembly plant in November, the company said on Thursday, cutting about 1,000 jobs as it makes production changes that were announced in 2012.
GM said it would offer retirement incentives to avoid layoffs. More than half of the 3,600 hourly workers at the plant are nearing retirement.
After Nov. 20, 2015, the Oshawa Assembly will stop producing the Chevrolet Camaro, GM said. The company announced in 2012 that it would build the next-generation Camaro in Lansing, Michigan, not Oshawa.
The "flex" line, which currently produces the Camaro as well as other vehicles, will drop from three shifts to two. The separate "consolidated" line will continue at one shift.
GM said it would record a restructuring charges of about $200 million, mainly in the second quarter of 2015, because of the move. It said the charges were included in its January forecast of $700 million in restructuring charges for 2015.
(Reporting by Allison Martell; Editing by Peter Galloway)
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