GM announced that it will rehire more than 700 laid-off workers in Ontario, recovering from the worst crisis in its history. All this just at the same time that Toyota receives a record fine of 16.4 million US dollars. GM is responding to growing consumer demand for its Chevrolet Equinox and GMC Terrain, both popular crossover utility vehicles.

GM had to close most of its North American operations last year due to low consumer demand and the near collapse of its parent company. GM will use its excess capacity at Oshawa, adding a third shift in October, which will lay off about 600 employees and lay off an additional 110 laid-off workers at CAMI. GM also expects to add another 70 jobs by August, which will be the first time it has added new jobs in Canada since 2002. GM hopes to meet high US demand for its Equinox. Its new production strategy should result in an additional 60,000 to 75,000 units per year.

The recent recession forced GM to cut production at its core brands of Chevrolet, Buick, GMC and Cadillac. The company has decided to cut back on its additional options, such as Pontiac, Saturn, Saab and Hummer. The company’s prospects began to improve in late 2009, as consumer demand began to grow again. Additional overtime shifts were added to keep up with the high demand for the company’s Chevrolet Camaro and the previously announced addition of the Buck Regal to the Canadian production line. This will see GM add another shift to its Ontario plant in 2011.

General Motors and its Canadian subsidiary were nearly wiped out last year during the economic downturn. Demand for larger, gas-guzzling vehicles has dropped sharply as consumers look to purchase more fuel-efficient and economical vehicles. This domino effect caused GM to cut about 2,600 jobs and a plant closure that affected an additional 1,000 workers. US government intervention kept the US-based company afloat throughout 2009; however, GM finally filed for bankruptcy in June, just days after receiving a multibillion-dollar rescue package from the US, Canadian and Ontario governments.

This rehiring news by GM is a key moment for the company’s former workers who took a knee last year over the collapse of the North American auto industry. Most of these people have exhausted their employment insurance and other social benefits. If you’re still reeling from a job layoff or too much debt and need financial advice or consolidation, there are plenty of private loan companies that can help. Bad credit is not a problem as some private lenders specialize in bad credit loans. These financial institutions can be easily found online. Some even offer 24-hour apps, with no strings attached.