Ford

(F) - Get Report

is cutting 300 workers, out of 3,400 jobs, at its Oakville Assembly Plant in Ontario because of declining demand for the automaker's Windstar minivan.

Ford expects to complete the job cuts by the end of April. The company will reduce its production of the Windstar from 75 units an hour to 65 units. The company said it hopes to recall some or all of the affected workers for employment at a future date.

Shares of Ford, which is based in Dearborn, Mich., gained $1.12, or 4%, to $29.02 in recent

New York Stock Exchange

trading.