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Magna cuts 400 auto jobs at Canadian plant

By Associated Press
June 18, 2008 | Comments (0)

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Magna International Inc. will cut 400 jobs at a plant in St. Thomas, Ontario, due to a downturn in demand for pickup trucks.

The cuts will affect salaried and hourly workers and will take effect on Sept. 8.

Magna says this is the first permanent layoff situation since the plant's inception and is due to the downturn in demand for full-size pickup trucks.

Employees will receive severance packages based on their years of service.

The cuts follow and announcement by General Motors earlier this month to end production at its Canadian pickup truck plant in Oshawa, Ontario, next year.

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