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German Labor Union Accepts Opel Deal
The federal executive board of German union IG Metall has approved a restructuring agreement between General Motors Co.'s Opel unit and the works councils at the company's plants in Germany.
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The federal executive board of German union IG Metall has approved a restructuring agreement between General Motors Co.'s Opel unit and the works councils at the company's plants in Germany.
The board vote was the last hurdle for Opel, which is now free to implement the pact. The contract allows the company to freeze wages through 2015 and shutter its assembly plant in Bochum late next year.
Opel can enact the new accord only at the four of its five Germany factories where workers ratified the deal. Hourly employees in Bochum overwhelmingly rejected the agreement last week.
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