Toronto – General Motors of Canada Ltd. has confirmed it will cut 1,200 jobs at the company’s truck plant in Oshawa, Ont. by next January. The decision, which GM blamed on high inventory, will cut about 1,200 jobs at the plant. Slumping pick-up truck sales caused, in part, by a slide in the U.S. housing market, may also be to blame.
Union officials estimated the ripple effect of GM’s cuts could affect up to 8,000 jobs in the auto parts sector.
That, of course, includes many jobs in the stamping industry.