General Motors shouldn't expect to achieve David Hasselhoff-level popularity in Germany anytime soon. The Detroit News reports that since GM has elected to keep and restructure its Opel division, 9,000 jobs (or somewhere thereabouts) will likely be cut, with the majority of those losses expected in Deutschland. The jobs will be eliminated as part of a $5 billion restructuring plan, which GM hopes to fund with a lot of help from European governments, as well as "employee contributions" (read: concessions). Just don't expect Angela Merkel to break out her Visa debit card anytime soon.
Opel/Vauxhall CEO Nick Reilly wins the Unintentionally Hilarious Quote of the Day award for this line: "We have also said that GM can and will put some money in, as well." What a novel concept. Digressing for a moment: Given that GM is out shaking the coffee can looking for ways to fund the Opel restructuring, it's hard to imagine a scenario where they find a way to save Saab, too. Getting the Opel business in order hardly sounds like it's going to be a picnic, so a rescue of the ailing Swedish automaker has got to be low on the priority list right now.
[Source: The Detroit News | Image Source: Thomas Lohnes/Getty]