Has General Motors gone?

The first step: mass reduction in the GM plants in Europe

In brief: General Motors is going to reduce about 9500 workers of Opel plants in Europe in order to avoid bankruptcy.

It is very difficult to manage such a large corporation in such difficult times. Now it is a problem to sale the production but workers must be paid. The only decision was made by Nick Reilly, the Head of European business of General Motors. He has informed today that GM will reduce 95000 workers of Opel plants in Europe.

General Motors rapidly accumulates failures. The restructuring of Opel has already become a necessity. Another way the perspective of closing the plant is inevitable. Anyway GM doesn’t mean to close Opel plant in Bochum, Germany.

It remains only to rely on luck because expenses for restructuring average €3.3 billion. The part of these expenses will hopefully be covered by budgets of the countries interested in keeping Opel plants working.

Ukranian Globalist
2009-11-24 12:57, Economics.

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