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GM swings the axe: 9,000 Opel jobs likely to be eliminated
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]
Reader Comments (Page 1 of 3)
Gardiner Westbound 4:32PM (11/25/2009)
Ach du Freakin' Lieber Himmel
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Sea Urchin 9:10PM (11/25/2009)
Opel is a Christian company?
UltraP 4:33PM (11/25/2009)
GREEN SHOOTS! Better than expected! [/irony] Poorly run companies like GM should have been allowed to fail and give way to well run enterprises.
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jabombardier 4:36PM (11/25/2009)
Had that happen, we would still be in a recession, and they will take toyota and honda with them.
DayShifter 4:53PM (11/25/2009)
I wish that same logic was applied to the banks and mortgage companies.... :(
thipps 5:16PM (11/25/2009)
@jabombardiar
"we would still be in a recession" when did we get out?
to everyone who is going to bash GM. please use logic
vehicle sales went from 18 million to 9 million. do you really think everyone was going to keep there jobs?
Bus Rand 9:52AM (11/26/2009)
I couldn't agree more. GM should have filed bankruptcy, opened the doors with new management (you know, car people?) and started with a clean slate on labor (no more unrealistic union strangle holds). Of course government getting involved is always a good thing (i.e. the great success social security/ripoff has been). What was Obama's idea? Close down dealerships. That way there can be less convenience, less competition (higher prices) and less choices in any given area. Hmmm, isn't that called socialism?
Well, anyway......Happy Thanksgiving Everybody.
Smegley 4:36PM (11/25/2009)
In Germany David Hasselhof is the past and Tina Turner is the future.
Hell, they still even think Alf is comedy genius.
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Stugots 5:28PM (11/25/2009)
Check your facts, they're too random for a joke even.
On another note, though, the protestor on the right still seems to have enough cash for his D&G shades.
Artega 4:39PM (11/25/2009)
I knew that this would happen. Some people said GM would spread the cuttings over whole europe. And the problem is that this are only the numbers for Opel. Noone can ll me that they won't do similar things to Vauxhall.
It seems like I have to accept that the germans were right when they said their "oh my god, GM will kill Opel" thing. My fear is that GM confuses "restructuring" with "destruction".
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Epsilon-Not 5:40PM (11/25/2009)
If I remember right, Opel and Vauxhall have been combined into one legal entity by the name of "Adam Opel GmbH"... so it's possible by referring to "9,000 Opel jobs" that includes the "Vauxhall" plants owned by the Opel entity.
mesama 4:56PM (11/25/2009)
Nothing surprising there. Initial estimates were always around 10k jobs. So this is a little less. Magna was planning on the same amount of cuts.
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ken 5:12PM (11/25/2009)
...only 9000?
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Bolide Italiano 6:08PM (11/25/2009)
I bet Germans are now regretting refusing a buy out from Fiat...........
The lay offs planned were far less than 9000.
Good luck to GM getting financial help from the Germans, Opel CEO looks slightly deluded in my opinion.
He doesn't realise he pissed off Mrs Merkel big time, I am not sure they gonna get the same financial help the German government promised to Magna.
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Judy Zik 8:50PM (11/25/2009)
+1 GM has managed to bungle the sales of three seperate assets (Saturn, Saab & Opel). Unfortunately for them the "just kidding" turnaround on the sale at Opel doesn't have the German government laughing. Not to mention the Russians or one of their key suppliers (Magna). The Opel turnaround is going to be a messy deal that is going to cost GM what little political capital they have left in Europe.
Dr. Greenthumb 9:32PM (11/25/2009)
Judy Zik: Misplaced logic. Saturn was not a viable business, it was just mostly competing with other GM models. There really was no point to keeping Saturn.
Opel, will be fine, the car market has shrunk, jobs Will be lost. Since Opel, Vauxhall & now Buick are sharing models, keeping them makes good business sense.
SAAB was dead when GM bought them. Let them go.
To the idiots that say its badge engineering, I say you're stupid. Opel, Vauxhall and Buick are in five different markets. Opel in Europe proper, Vauxhall in England & the British Caribbean, Buick in US and China. Bad badge engineering that GM practiced in the past was taking one car, and making models for each of six divisions, all to be sold in the same market.
Justin 6:38PM (11/25/2009)
As a common sense thinker, or an union hater, I am happy Obama saved Chrysler & GM, thus temporarily saving the unions.
To those who truly understand what capitalism means, over the long run, this GM & Chrysler will crash & burn even harder, and unions will suffer even more over the long run.
I love America, but I never loved American cars. Long live the Pentagon!
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krjopgrjopjeopjepr 6:40PM (11/25/2009)
ONLY in this day of Obama trillion dollar stimulus bills that cause 3 million jobs to be lost, a massive health care spending bill when Obama himself said we must cut the debt, A huge cap n trade tax scheme which will raise taxes and costs millions of Americans and small businesses money during a recession, practically forced vaccinations against a virus that has hardly killed anyone yet it's a "pandemic", record federal deficits, record printing of money, etc. would it make sense for the Europeans to kick in $5 BILLION to help GM CUT 9000 jobs.
What is going on in the world? No one, not even the wackiest liberal can tell me any of this makes sense.
These are the end times my friend.
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adrian 7:28PM (11/25/2009)
No leader is perfect including Obama but It seems like he is always going to be a target for everything that goes wrong in the US. I'm sure that will soon include pissing on the toilet seat.
Atlas 9:49PM (11/25/2009)
@krjopgrjopjeopjepr
Reality check:
"ONLY in this day of Obama trillion dollar stimulus bills that cause 3 million jobs to be lost"
-->Ughh...the stimulus caused job losses? Are you on crack? Without a stimulus (signed and started by G. W Bush in late 2008 and approved by Republicans), the job loss would have been phenomenal.
" a massive health care spending bill when Obama himself said we must cut the debt"
-->Yes it's a huge spending, but if you look at the numbers, Medicare and Medicaid are about to dry up....Obama's plan costs a lot of money now, but will save a lot over time. It's called long-term investment.
"A huge cap n trade tax scheme which will raise taxes and costs millions of Americans and small businesses money during a recession"
Absolute nonsense here, lots of hot air, zero fact. A cap and trade scheme will not raise taxes you imbecile, do you even know what cap and trade signifies? Small businesses won't even have to deal with it. Again, for god's sake, stop believing all the fear-mongering nonsense coming from Glenn Beck.
"practically forced vaccinations against a virus that has hardly killed anyone yet it's a "pandemic"
Forced vaccinations? LOL! Are you out of your mind? For making up such complete, utter nonsense you must be on meth right? The swine flu hardly killed anyone, same for the regular flu, yet people still get vaccines for that. Oh and by the way, when a disease spreads worldwide, it's called a pandemic. No really, look in the dictionary.