Opel Workers Agree to Cuts
Kate Yule
Tuesday, November 3, 2009
Opel’s employee council says workers have agreed to a cost-cutting deal that’s worth US$390 million a year.
The employee council says the aim of both sides is to avoid closing plants and laying off workers.
The agreement is dependent on a deal to sell a majority of the General Motors unit to Canada’s Magna International and Russian lender Sberbank.
The work force would get a 10 per cent stake.
General Motor’s board will meet in Detroit to decide whether to approve the deal.
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