Opel Restructuring Negotiations Postponed into 2013

General MotorsGMUnited States of America, 1998 > present8 models
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appears to be doing whatever it can to reduce costs in Europe. Rumors indicate that it is negotiating with PSA to create a new joint venture, but if that falls through, it is negotiating with Opel to close at least one factory, maybe more. 

The negotiations between GM and OpelOpelGermany, 1863 > present85 models
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were meant to close on Friday, October 26 but have been delayed by two or three months. There is now no firm deadline for the negotiations. GM wants to cut a few thousand jobs and close at least one factory in 2017, according to the IG Metall Union. 

The union is requesting that no factories be closed in Germany until 2016. Opel and IG Metall have agreed to close no factories until 2014 already. The most likely factory to be closed would be the Bochum plant that employs 3,300 people. 

The two sides have already agreed to defer a 4.3% pay increase until an indefinite date. 

The union is now under added pressure to accept layoffs because Ford was able to close two factories in Europe and close stamping operations at another factory. It will cut Ford's European workforce by 13%. 

Source: Automotive News Europe