General Motors subsidiary Adam Opel AG on Friday said that 4,500 German employees had accepted the company’s severance offer and will leave the loss-making car maker this year, according to the Associated Press (AP).
Go deeper with GlobalData
Noting that the layoffs are part of GM’s overall plan to restructure its European operations that will mean a total of 9,000 lost jobs at Opel, the news agency said about 2,700 jobs will be cut at the main plant in Ruesselsheim [near Frankfurt], 1,500 at the factory in Bochum and 300 from the Kaiserslautern facility.
In addition to those accepting the severance package, 1,000 Opel employees have agreed to an early retirement plan, the report added.
The company told AP that Opel is still in talks about outsourcing 2,000 jobs, while a further 1,500 jobs still need to be cut at the Bochum plant.
According to the Associated Press, the severance package varies, but as an example, the company said a 50-year-old employee with 30 years’ experience and a monthly salary of €3,600 ($US4,754) would receive a payment of €216,000 ($285,000) and still get a full pension.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataAP added that GM also plans to cut jobs at its Vauxhall and Saab brands, and foresees the loss of a total of 2,000 positions at its plants in Ellesmere Port, England; Trollhaettan, Sweden; Antwerp, Belgium and Zaragoza, Spain.
GM also plans to cut 15% of management jobs in Europe, the report added.
