Published on Fri, Nov 20, 2009 at 09:40 | Source : Reuters
Updated at Fri, Nov 20, 2009 at 11:20
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GM to present Opel restructuring plan in Dec
US carmaker General Motors will present a new viability plan for Opel in mid-December as it aims to reduce capacity across Europe by about 20 percent, a top executive said on Thursday.
US carmaker General Motors will present a new viability plan for Opel in mid-December as it aims to reduce capacity across Europe by about 20 percent, a top executive said on Thursday.
GM this month reversed a decision to sell a majority stake in Opel to a consortium led by Canadian car parts manufacturer Magna.
Magna was targeting about 900 job cuts in Zaragoza, and Opel's union representatives in Spain have told Reuters they would not accept any more cuts than those negotiated with Magna.
"Our plan is very similar to Magna's. I don't think it's worse," Nick Reilly, interim head of GM's European business, told reporters in northern Spain, where Opel's largest plant is located.
Reilly, a Briton who is in charge of restructuring Opel until ex-GM Europe boss Carl-Peter Forster is replaced, has said up to 10,000 jobs could go across Europe as part of GM's overhaul.
However, on Thursday he said it was too soon to say whether any production sites would be closed.
"We'll try not to do it, but we still don't know how we're going to carry out the production cuts," Reilly said.
