Opel to Cut Hours, Offer Buyouts

PSA Group’s recently acquired Opel unit will broaden early retirement offers and reduce work hours in a bid to cut costs and improve operating efficiency.

On Jan. 1, Opel will trim normal work hours for at least six months for its administration and engineering staffs. In April the unit will cut normal work weeks for existing contract employees to 35 hours.

The company says it will extend a previous early retirement plan for workers between 58 and 61 years old. The unit also will introduce a new “senior leave” plan that allows employees who are close to retirement age to quit as much as 36 months early.

In addition, Opel will trim work hours for its administrative and engineering staffs for at least six months in 2018. Finally, the company is introducing a “mobile working” plan that enables qualifying employees to sometimes work from home.