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 will cut about 500 jobs in Canada as it reduces operations at its Oshawa, Ontario, plant. The decision adds to the strain already facing the auto sector, which has been under pressure from US tariffs.
GM Canada will move the Oshawa Assembly Plant back to a two-shift schedule. The company is ending a temporary third shift that was added after the pandemic to meet strong pickup-truck demand and rebuild depleted inventories. Spokesperson Jennifer Wright said the shift was no longer needed.
Auto union Unifor said the impact will be broader than Oshawa alone. The union expects up to 1,200 workers across the auto supply chain to complete their final shifts on Friday as GM scales back its Canadian footprint. Unifor accused the company of shifting production to the US after Washington imposed a 25% tariff on Canadian-built vehicles last year. It also said GM rejected a proposal to keep the third shift running through 2026. GM has also criticized Canada for allowing up to 49,000 Chinese-made electric vehicles into the country under a 6.1% tariff. Wright said the Oshawa changes are not linked to Canada’s evolving policy on Chinese EV imports. She added that GM’s C$280 million ($207 million) commitment is part of more than C$2.6 billion that the company says it has invested in Canadian manufacturing over the past five years.
Oshawa remains GM’s only North American facility that builds both light- and heavy-duty Chevrolet Silverado pickups on the same production line. Parts of the plant will continue supporting aftermarket stamping and sub-assembly work. GM also said its St. Catharines, Ontario, propulsion plant will keep producing next-generation V8 engines for trucks and SUVs, while the CAMI Assembly plant is still being evaluated for future programs.
General Motors Company (NYSE:GM) designs, builds, and sells trucks, crossovers, cars, and automotive parts worldwide. The company also offers software-enabled services and subscription-based products.
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