04/30/2015 12:37 EDT | Updated 08/08/2015 01:59 EDT

GM to cut 1,000 jobs at Ontario plant

GM has confirmed it will cut 1,000 jobs at its Oshawa, Ont., assembly plant, even as it announces $5.4 billion US in investment in its American operations.

On Thursday, GM confirmed the end of production for the Chevrolet Camaro at the Oshawa Assembly plant will be Nov. 20 of this year. The plant is still waiting for the company to announce a model to be made after 2016.

By December of this year, Oshawa will have 2,600 employees, building five vehicles: the Chevrolet Impala, Buick Regal, Cadillac XTS, the Impala Limited, and the Chevrolet Equinox.

The company said it is working with autoworkers union Unifor to offer retirement incentives to workers to minimize the number of layoffs.

Even as the announcement of layoffs was made in Canada, GM was pledging $5.4 billion US in investment in its U.S. plants over three years.

Speaking in Pontiac, Michigan, GM North America president Alan Batey outlined specific plans totalling $783.5 million for GM's three Michigan plants.

These include:

- $124 million for the Pontiac Metal Center, where major body panel dies will be pre-tested.

- $520 million for tooling and equipment for new vehicle programs at the Lansing Delta Township assembly plant.

- $139.5 million for a new body shop and stamping facility upgrades for pre-production vehicles in Warren.

All of the investments are geared toward improving the quality of GM products, according to GM vice-president Cathy Clegg.

The automaker said it would announce another $4.6 billion in investments over the coming months.

Since June 2009, GM says it has announced U.S. investment of approximately $16.8 billion.

In the past few months, the company has made two investment announcements in Ontario — $560 million at its Cami plant in Ingersoll, Ont., to build the Chevy Equinox and an expansion – without a dollar figure attached – of its research centre in Oshawa.

While GM announced in December 2012 it would move production of the Camaro to Michigan, workers had hoped for new investment in Ontario to offset the number of job losses.