Opel says it has yet to agree detailed terms of its future plans from 2012-2014 as rumours continue to sweep Europe the automaker is mulling closures and redundancies.
A deal between Opel and its employee Works Council was previously thrashed out covering the period from 2011 to 2014 and where staff contributed EUR265m per year (US$351m) in savings, but there is now uncertainty regarding the detail from the current year to 2014.
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“The agreement is enforced for the years 2011, 2012, 2013 and 2014, but the exact contribution of the employees has only been described for the years 2010-2011,” an Opel spokesman in Germany told just-auto.
“Two years ago, it was a wise decision to agree on certain commitments for the next two years because nobody could know how things would go forward in various markets. It has been agreed new talks were an obligation with regard to the contribution of the employees for the period 2012-2014.”
The apparent lack of detail from 2012-2014 appears to be fuelling speculation Opel is about to wield the axe on either plants and/or staff, with further ammunition being added as the automaker is expected to post what could be full-year negative results shortly.
“What will take place now is Opel management and employee representatives will talk about the way to achieve the commitment of the employees,” said the Opel spokesman. “There is no formal timeline.”
Opel is about to announce fourth quarter numbers that some analysts note could see the manufacturer post a full-year loss, after a negative result of US$292m in the third quarter.
Those same analysts add GM has lost nearly US$2.4bn on Opel since 2009, running up a staggering loss of US11bn combined since 1999.
Regulatory filings show Opel spent US$900m on restructuring costs in 2011, with estimates it will outlay a further US$300m this year.
