General Motors Company (NYSE:GM) is included among
12 Unstoppable Dividend Stocks to Buy According to Analysts.
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On January 29, General Motors Company (NYSE:GM) said it volition chopped astir 500 jobs successful Canada arsenic it reduces operations astatine its Oshawa, Ontario, plant. The determination adds to the strain already facing the car sector, which has been nether unit from US tariffs.
GM Canada volition determination the Oshawa Assembly Plant backmost to a two-shift schedule. The institution is ending a impermanent 3rd displacement that was added aft the pandemic to conscionable beardown pickup-truck request and rebuild depleted inventories. Spokesperson Jennifer Wright said the displacement was nary longer needed.
Auto national Unifor said the interaction volition beryllium broader than Oshawa alone. The national expects up to 1,200 workers crossed the car proviso concatenation to implicit their last shifts connected Friday arsenic GM scales backmost its Canadian footprint. Unifor accused the institution of shifting accumulation to the US aft Washington imposed a 25% tariff connected Canadian-built vehicles past year. It besides said GM rejected a connection to support the 3rd displacement moving done 2026. GM has besides criticized Canada for allowing up to 49,000 Chinese-made electrical vehicles into the state nether a 6.1% tariff. Wright said the Oshawa changes are not linked to Canada’s evolving argumentation connected Chinese EV imports. She added that GM’s C$280 cardinal ($207 million) committedness is portion of much than C$2.6 cardinal that the institution says it has invested successful Canadian manufacturing implicit the past 5 years.
Oshawa remains GM’s lone North American installation that builds some light- and heavy-duty Chevrolet Silverado pickups connected the aforesaid accumulation line. Parts of the works volition proceed supporting aftermarket stamping and sub-assembly work. GM besides said its St. Catharines, Ontario, propulsion works volition support producing next-generation V8 engines for trucks and SUVs, portion the CAMI Assembly works is inactive being evaluated for aboriginal programs.
General Motors Company (NYSE:GM) designs, builds, and sells trucks, crossovers, cars, and automotive parts worldwide. The institution besides offers software-enabled services and subscription-based products.
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READ NEXT: 15 Best Wide Moat Dividend Stocks to Invest in and 13 Best Long Term Low Risk Stocks to Buy Now
Disclosure: None.

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