GM plant in Oshawa, Ont., to shut down

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Canadian Prime Minister Justin Trudeau said he was "deeply disappointed" by the decision to shut the Oshawa, Ontario plant. It announced similar fates for three factories in MI and one in OH, and said it would also close two unspecified facilities outside North America. Some U.S. factory workers could transfer to truck or SUV factories that are increasing production.

A spokeswoman for GM Canada said Sunday that the company had "no news or comment tonight" and would not be commenting on speculation.

The GM statement says these actions are being taken to reduce salaried and salaried contract staff by 15 per cent, which includes 25 per cent fewer executives to streamline decision making. GM expects to spend $1 billion on Cruise this year to build the next generation of cars. The automaker's other Canadian facilities - in St. Catharines, Ont. and Ingersoll, Ont. - are not affected by the announcement. "In the meantime, we've set up a jobs center to help employees find new work as quickly as possible", he said in the statement.

Unlike Japanese automakers Nissan Motor Co Ltd, Honda Motor Co Ltd and Toyota Motor Corp, which rely on a more flexible system where they make multiple vehicles at a single plant, GM has too many factories that make just a single model.

"The workers at Lordstown are the best at what they do, and it's clear once again that GM doesn't respect them".

"The closure of this plant will have a ripple effect like we have never seen before".

"This is a warning and we all must be concerned about protecting jobs and keeping them in this country".

U.S. President Donald Trump won OH in 2016 campaigning on bringing manufacturing jobs back to America.

General Motors Canada will be announcing the closure of all operations in Oshawa, Canada on 26 November, multiple anonymous sources told CTV News Toronto. "We think it is appropriate to do it at this time while the company is strong and the economy is strong".

In a statement, Governor John Kasich said the news was "frustrating" but said he would work with GM to try to preserve the plant.

"They're gone; they're done".

President Trump told reporters, "We don't like it, I believe they'll be opening up something else". Shares in the company rallied 7.6 percent to $38.66.

GM's operations are a significant part of economic growth and jobs in the city, long considered to be Canada's motor city. The end has been in sight for some of these plants for a while, though: both Lordstown and Detroit-Hamtramck were running just one production shift, and in November, GM offered buyouts to some 50,000 salaried employees. The company has said tariffs on imported steel, imposed earlier this year by the Trump administration, have cost it $1 billion.

GM, the largest automaker in the USA, which sells the Chevrolet, Buick, Cadillac and GMC brands, said the moves will save $6 billion in cash by the end of next year, including $4.5 billion in recurring annual cost reductions and a $1.5 billion reduction in capital spending. GM expects to spend $1 billion on Cruise this year to build the vehicle of the future.

The plant closure announcement was confirmed late Sunday by an official familiar with the decision. The enormous plant near Texas 360 and East Abram Street employs about 4,125 people.

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