TORONTO (Reuters) – General Motors Co (GM.N) is planning to close all operations at a plant near Toronto and an announcement is expected on Monday, a local TV news channel reported on Sunday

Citing multiple sources, CTV News reported that the plant closure in Oshawa in the province of Ontario was expected to affect “thousands” of high-paying jobs. GM builds sedans on one assembly line and pickup trucks on another. The plant closure is part of global restructuring, the report added.

A Canada-based GM spokesman declined comment.

GM employs about 2,500 union staff and roughly 300 salaried employees in the Oshawa area. The U.S. automaker has other operations in Canada, including a plant in Ingersoll, Ontario, where it assembles Chevrolet Equinox.

Source: Read Full Article