General Motors, the world’s biggest carmaker, is set to reveal the thrust of an eagerly awaited reorganisation plan for its loss-making European operations this week, an industry source said yesterday.
“We expect GM will also announce the reorganisation in Europe when the company releases quarterly results on Thursday,” the source said, adding that details of the impact on individual plants would be given first to labour unions.
The plan would also be presented to the supervisory board of Adam Opel AG, GM’s German unit, at a meeting on Friday, he said. Frankfurter Allgemeine Zeitung said Opel was likely to bear the brunt of GM’s European cost cuts, losing 6,000-7,000 jobs. |
