• Magna dooms Bochum gearbox and Luton van output

  • Bonuses and holiday pay to be cut

  • Magna will cut 3,045 Opel jobs if it buys the automaker from General Motors, a German magazine said.

    Citing Magna documents, Wirtschaftswoche said the largest cuts at the automaker, which employs 25,000, would be in Bochum because the supplier intends to move gearbox production there abroad.

    Short-time work at Ruesselsheim would continue next year and all jobs at Eisenach would remain, Financial Times Deutschland said. Factories in Antwerp, Belgium, and Luton, UK, would be closed.

    Luton builds vans developed by GM and the Renault-Nissan alliance. Nissan is pulling out to develop its own range – starting with the LV200 launched recently – and the plant’s current assembly contract is good only until 2013.

    Magna also plans to lower Christmas bonuses and holiday pay from 2010, the reports said.

    Opel was forecast to post billion euro losses for 2009 and 2010 and return to profitability in 2011 the documents, given to the German government on 17 July, said.

    The minister-president of Rhineland-Palatinate, Kurt Beck, said on Friday that Magna and GM had resolved all disagreements regarding Opel’s takeover, adding he expected a decision on a takeover within weeks.