GM to cut 12,000 Europe jobs

PontiacJ8 · 10-12-2004, 12:55 AM

SAN FRANCISCO (CBS.MW) -- General Motors, the world's largest automaker, will announce plans on Thursday to cut about 12,000 jobs in Europe, or about one-fifth of its workforce on the continent, according to a news report Monday.

Most of the job cuts will come in Germany, the Financial Times said, citing unnamed company sources.
GM does not yet plan to close plants as part of the restructuring, which comes in the wake of a failed three-year cost-cutting effort, according to the FT. That effort was ruined by a weaker than expected market and a pitched price battle, the newspaper said.

GM's frustration with European regulatory and labor restrictions also is mounting, the paper added.

Last month, the Financial Times reported that GM Chairman Rick Wagoner had given his divisional chiefs orders to cut structural costs by more than $500 million next year.

Full Story HERE

powervette · 10-12-2004, 06:35 AM

I hope there won't be any job-cuts in Opel Factory in Gliwice

93typhoon · 10-12-2004, 07:39 AM

because Gliwice is in eastern Europe (Poland). I think it will be safe. it will be plants in Germany, Spain and France that will be targeted.

10-12-2004, 12:55 AM	#1 (permalink)
PontiacJ8 6.0 Liter Vortec V8 Join Date: May 2003 Location: Pontiac~Avenue Drives: 1987 Pontiac Fiero 1988 Pontiac Fiero GT Posts: 1,508	GM to cut 12,000 Europe jobs SAN FRANCISCO (CBS.MW) -- General Motors, the world's largest automaker, will announce plans on Thursday to cut about 12,000 jobs in Europe, or about one-fifth of its workforce on the continent, according to a news report Monday. Most of the job cuts will come in Germany, the Financial Times said, citing unnamed company sources. GM does not yet plan to close plants as part of the restructuring, which comes in the wake of a failed three-year cost-cutting effort, according to the FT. That effort was ruined by a weaker than expected market and a pitched price battle, the newspaper said. GM's frustration with European regulatory and labor restrictions also is mounting, the paper added. Last month, the Financial Times reported that GM Chairman Rick Wagoner had given his divisional chiefs orders to cut structural costs by more than $500 million next year. Full Story HERE __________________

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10-12-2004, 06:35 AM	#2 (permalink)
powervette 4.4 Liter Supercharged Northstar Join Date: Sep 2003 Location: Heart of Europe Posts: 2,208	I hope there won't be any job-cuts in Opel Factory in Gliwice

10-12-2004, 07:39 AM	#3 (permalink)
93typhoon 2.0 Liter Supercharged ECOTEC Join Date: Oct 2003 Posts: 153	because Gliwice is in eastern Europe (Poland). I think it will be safe. it will be plants in Germany, Spain and France that will be targeted.

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