Salary cuts and job cuts in Opel
Berlin, Mar 4: German automaker and a part of US giant General Motors (GM) warned to cut 3,500 jobs if the government does not help the company out of crisis. Salary cuts are already expected and on top if that comes job cuts of not more than 3,500 jobs, said GM Europe chief Carl-Peter Forster in an interview with the mass circulation daily Bild Zeitung.
GM,
has
requested
the
US
Government
for
around
$30
billion
(€24
billion)
in
loans.
The
Company
is
also
in
talks
with
German
authorities
on
how
to
save
its
German
subsidiary
that
has
26,000
workforce.
GM is also in talks with governments of Belgium, Britain and Spain, where Opel also has factories. The company needs €3.3 billion in loans or direct share holdings by 2014 to save all the units.
OneIndia News