Honda To Cut Output At U.S., Canada Plants By As Much As Half

TORONTO (Reuters) -- General Motors will eliminate one shift at its Oshawa, Ontario, assembly plant in November,

the company said today

, 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, 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, Mich., not Oshawa.

The "flex" line, which currently produces the Camaro as well as the Buick Regal, Chevy Impala and Cadillac XTS, will drop from three shifts to two. The separate "consolidated" line will continue at one shift. 

GM said it would record a restructuring charge 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.

Source :

Thank you for visit my website
GM Canada to cut about 1,000 jobs at Oshawa plant
Will Canadian Oil Producers Cut Output?
Before the Bell: What every Canadian investor needs to know today
Nissan to cut North American production by up to 20%
B.C. gas pipeline rupture forces refineries to cut output, lifts gasoline prices
The Rise of Hybrid Digital and Offset Printing Environments
Jaguar Land Rover Posts $4.4 Billion Quarterly Loss With Falling Demand in China
Honda to close Japan plant amid refocus on EVs
Gas prices soar in Washington, Oregon, Canadian crude sinks to record low after Enbridge pipeline explosion
U.S. Sees Sanctions Taking 1 Million Bpd Iranian Oil Off The Market