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Opel Restructuring Deal Could Be Three Months Away
Adam Opel labor leader Wolfgang Schaefer-Klug tells reporters that the company could have an agreement with its unions about a turnaround plan in two to three months.
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Adam Opel labor leader Wolfgang Schaefer-Klug tells reporters that the company could have an agreement with its unions about a turnaround plan in two to three months.
Opel parent General Motors Co. said late last year and again in February that it expected to unveil a restructuring plan by March. Then it said the program might be ready by May or June.
The company and its unions appear to still be far apart on any agreement about job cuts, plant closings and efficiency improvements.
GM's European unit posted a $256 million operating loss in the first quarter of this year and lost $747 million in 2011.
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