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GM Europe boss Reilly warns Opel of looming cuts

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GM Europe boss Reilly warns Opel of looming cuts

January 8, 2010 10:31 CET

FRANKFURT (Reuters) -- GM Europe President Nick Reilly warned workers at Opel and its sister brand Vauxhall of challenging times ahead, including job cuts, as he seeks to overhaul the European carmakers.

"There is still much work ahead of us and challenging times to overcome. We must work fast to reduce our capacity, while maintaining productivity and quality," Reilly said in a blog addressing employees.

Change may feel rough for the European arm of General Motors and its employees, as it will mean leaving behind friends and colleagues, he said. "This is a tough reality."

In addition to cuts, Reilly said seven new products will be launched this year as part of a new product offensive.

GM is overhauling its European operations in the wake of its decision to keep Opel, rejecting a sale that former GM CEO Fritz Henderson had backed and helped broker.

Opel has said it plans to cut about 8,300 jobs from its work force of 50,000 in a 3.3 billion euro ($4.7 billion) overhaul that seeks state aid from countries with Opel plants including Germany, Spain, Poland and the UK.

Reilly, who also serves as chief executive of Opel and Vauxhall and was initially appointed to restructure the company on an interim basis, said that he would announce a new management team soon.

Read more: http://www.autonews.com/apps/pbcs.dll/article?AID=/20100108/ANE/301089971/1198#ixzz0c2HxMyFW

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So itr seems Opel/Vauxhall is being wound down too.

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Just a bit of sarcasm, there. Removing the sarcasm would yield the sentence 'Opel/Vauxhall is being wound down a little'.

Edited by ZL-1

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