Advertisement
Canada markets closed
  • S&P/TSX

    22,872.65
    +182.26 (+0.80%)
     
  • S&P 500

    5,564.41
    +59.41 (+1.08%)
     
  • DOW

    40,415.44
    +127.91 (+0.32%)
     
  • CAD/USD

    0.7269
    -0.0013 (-0.18%)
     
  • CRUDE OIL

    79.95
    -0.18 (-0.22%)
     
  • Bitcoin CAD

    93,624.41
    +91.38 (+0.10%)
     
  • CMC Crypto 200

    1,397.79
    -7.54 (-0.54%)
     
  • GOLD FUTURES

    2,400.30
    +1.20 (+0.05%)
     
  • RUSSELL 2000

    2,220.65
    +36.30 (+1.66%)
     
  • 10-Yr Bond

    4.2600
    +0.0210 (+0.50%)
     
  • NASDAQ

    18,007.57
    +280.63 (+1.58%)
     
  • VOLATILITY

    14.86
    -1.66 (-10.05%)
     
  • FTSE

    8,198.78
    +43.06 (+0.53%)
     
  • NIKKEI 225

    39,599.00
    -464.79 (-1.16%)
     
  • CAD/EUR

    0.6674
    -0.0016 (-0.24%)
     

GM cancels 1,245 layoffs at factories in Brazil, union says

FILE PHOTO: Logo of GM atop the company headquarters

(Reuters) - General Motors will cancel 1,245 layoffs at its factories in Sao Jose dos Campos, Sao Caetano do Sul and Mogi das Cruzes in the state of Sao Paulo, the union representing metalworkers said on Saturday.

The announcement was made a day after a Brazilian labor court rejected the U.S. automaker's request for an injunction to maintain the layoffs.

Saving the jobs was a "historic victory" following a 13-day strike, the Sindmetal union said in a statement, adding that GM representatives will meet union leaders on Monday to confirm the decision.

(Reporting by Anthony Boadle; Editing by Paul Simao)