Opel to cut 8,300 jobs
15:16, 10 February 2010
FRANKFURT. February 10. KAZINFORM Troubled automaker Opel laid its cards on the table Tuesday with details of a restructuring plan that will involve 8,300 job cuts and require billions of euros (dollars) in state aid. Opel boss Nick Reilly delivered a long-awaited program for the ailing General Motors unit and its 50,000 employees during a press conference that paved the way for talks with governments in several European countries. "We have no time to waste," Reilly said in Frankfurt, near Opel's headquarters in Ruesselsheim; Kazinform refers to the Arab News.
He added that, with the new plan, "we expect to break even in 2011 and make a decent profit in 2012." GM is to contribute 600 million euros and is asking countries that host Opel and its British sister brand Vauxhall to stump up another 2.7 billion euros; Kazinform cites the Arab News.
See www.arabnews.com for full version