Thursday, April 30, 2009

GM truck shutdown hits Magna parts plant

Magna International Inc. is going to lay off 725 workers at its truck-frame plant in St. Thomas, Ont., until the market picks up.

The auto parts company said the layoffs at the Formet Industries plant are necessary because customers, particularly General Motors, are shutting down their plants.

The employees will be recalled once the customers start making full-sized trucks again. GM is the plant's main customer.

The layoffs include hourly and salaried employees.

With files from The Canadian Press