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Opel Approves €550 Million Plan to Close Bochum Plant
General Motors Co. will spend at least €550 million on severance pay and early retirement packages for workers at the Opel assembly plant it is closing in Bochum, Germany, Reuters reports.
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General Motors Co. will spend at least €550 million on severance pay and early retirement packages for workers at the Opel assembly plant it is closing in Bochum, Germany, Reuters reports.
Unnamed sources tell the news service there will be unspecified additional costs to clean up the site and move the factory's Zafira minivan tooling to Opel's plant in Russelsheim.
Friday's Frankfurter Allgemeine Zeitung says Opel's senior management has approved the €550 million restructuring plan. Reuters notes that GM acknowledged last autumn it would incur "significant" costs to close the factory as part of its plan to make Opel operations profitable.
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