Auto Parts Inc. (TSX:APO) Ontario’s largest auto maker said Monday it’s cutting 1,000 jobs in Quebec and Ontario to close a $1.4-billion restructuring of its Canadian operations.
The announcement came amid an investigation into the alleged manipulation of the Ontario auto parts market by a Canadian firm.
Ontario’s largest car maker said the move will eliminate 1,500 jobs at its plant in Quebec, where the company employs more than 12,000 people.
The company said the decision will save it $3.3 billion.
It said it will also eliminate about 700 jobs in Ontario.
The company said its Canadian business will continue to operate as planned.
Ontary announced in May it would close its factory in Quebec in 2018 to focus on new investment.
The province has been trying to bring down costs and improve profitability as it prepares to exit the auto parts business.