GM confirmed this week that it will be shutting down production at five factories, including the long-serving plant in Oshawa, Ontario, as part of a global restructuring plan aimed at prepping the company to withstand a looming slowdown in the industry.
First and foremost the moves mean that over 10,000 workers will lose their jobs in North America, including some 2,500 in Ontario. But it’s accompanied by the announcement of some serious house-cleaning within the model ranks at the various GM divisions.
Chevrolet is the most affected, as the Cruze and Impala sedans and even the Volt plug-in hybrid will disappear after next year. Also getting cut are the Buick LaCrosse and the Cadillac CT6.
In the case of the Cruze, it will continue to be produced for certain other markets.
GM CEO Mary Barra explained that resources needed to be reallocated to building more electrified vehicles and further developing autonomous driving technologies. The company estimates the closures will free up $6 billion USD in cash flow by the end of 2020.
