GM to present plan for Opel in December

• Source: Global Times
• [10:20 November 20 2009]
• Comments

General Motors Co. will unveil a $4.9 billion restructuring plan for Opel next month as it decides to cut production across Europe, GM Europe interim head Nick Reilly said Thursday.

The automaker said November 17 that it planned to cut capacity by between 20 percent and 25 percent and headcount of up to 10,000 of the total 50,000 jobs in Europe. He said it was too soon to say if the company would close any production sites.

GM decided earlier this month not to sell a majority stake in Opel to a Canadian automotive supplier Magna International Inc.

Agencies and Shi Jierui contributed to this story