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Opel approves plan to cut costs, boost brand

Opel approves plan to cut costs, boost brand

GM's struggling European unit Opel says it board of directors have signed off on a turnaround plan that envisages cost cuts, new models and efforts to win new export sale.
An Adam Opel GmbH statement says the plan aims at a "sustainable turnaround" for GM's money-losing European business.
The statement Thursday provided few details. The company has said it is working on a plan that envisions guaranteed jobs for German workers until 2016 in return for postponing pay increases, and the expectation that the plant in Bochum will close after that.
The company has also said it plans to launch new models, move into market segments where it has not been represented, and expand sales in emerging markets. It also expects synergies with new French partner PSA Peugeot Citroen.


Updated : 2021-04-20 00:21 GMT+08:00