General Motors (NYSE: GM) is reportedly cutting production at its Oshawa Assembly Plant, as per a statement put out by Unifor this morning condemning the action.
The plant is reportedly scheduled to be reduced from a three shift to a two shift operation this fall, with the company blaming US President Donald Trump’s tariffs as the reason behind the cuts. Unifor referred to the move as being “premature and disrespectful” stating that the company has “jumped the gun” before Canada’s recently elected Prime Minister Carney has had the opportunity to discuss the economy with Trump.
“Cutting the third shift at Oshawa Assembly is a reckless decision that deals a direct blow to our members and threatens to ripple through the entire auto parts supplier network. GM needs to reverse this short-sighted move before more damage is done,” commented Unifor National President Lana Payne.
Sponsored · Altamira Gold Corp.
The plant is expected to be recalibrated for Canadian sales, reducing Oshawa truck exports in the process. Last year the company produced a total of 151,000 vehicles in Canada.
“GM Oshawa was reopened thanks to the hard work of our members and significant investments by the federal and provincial governments based on a promise to maintain good jobs and production,” commented Chris Waugh, Unifor GM Oshawa Assembly Plant Chairperson.
As per Unifor, GM has in recent weeks announced changes that will result in nearly 30% of the hourly workforce in Canada being laid off permanently. These figures have not been independently verified.
General Motors last traded at $45.05 on the NYSE.
Information for this story was found via the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
