General Motors Canada ceased production at its Oshawa, Ontario assembly plant the week of December 16, 2019, leaving about 2,300 workers unemployed.
The automaker will no longer produce the Cadillac XTS and Chevrolet Impala.
According to Automotive News Canada, workers with 30 years of service or are of retirement age are eligible for an “enhanced retirement incentive” that includes $130,000 for non-trades workers and $150,000 for skilled-trades workers.
Workers with under 30 but more than 26 years of experience can opt to enter a “Leave to Retirement Program” which would allow them to receive up to 65 per cent of their wages, with potential retirement incentives between $55,000 and $95,000 depending upon their job and years of service, plus vehicle voucher. If those workers choose to immediately retire, retirement packages range from $90,000 to $115,000, plus vehicle voucher.
Full-time workers with seniority who are less than 50 years old but have 10 or more years of experience and will turn 50 within three years can elect to be placed on layoff before collecting early retirement benefits at age 50, and could elect to take a buyout of $130,000 ($150,000 for skilled-trade workers) and a $10,000 vehicle voucher.
Those with less than 10 years of seniority will be offered lump sum payments ranging from $10,000 to $40,000 depending upon their experience.