But no word yet on any cuts in the UK
14 September 2009

Canadian car parts manufacturer Magna could cut as many as 10,500 jobs at Opel and Vauxhall across Europe.

Magna and its Russian funding partner Sberbank agreed a 55 per cent deal to takeover Opel/Vauxhall from General Motors last week and reports from Germany over the weekend reported the job cuts were likely.

Magna's co-chief executive Siegfried Wolf said in Frankfurt that the job cuts were likely and 4500 of the 10,500 could be in Germany.

Magna was Germany's preferred bidder after it competed for months against rival bidder RHJ International.

Germany's economy minister Karl-Theodor zu Guttenberg said there would be more job cuts than originally intended.

“Since spring, it was known by all the parties, including representatives of the [Opel] employees, and from the information I was given, that the number [of job cuts] mentioned by Magna only concerned the productions sector but other job cuts were feared in administration," he said.

Opel employees around 50,000 people in Europe, 10,000 of these are in Germany. Magna has said that it will keep all four German plants open.

Twitter - follow autocar.co.ukSee all the latest Vauxhall reviews, news and video

Join the debate

Comments
1

14 September 2009

[quote Autocar]Opel employees around 50,000 people in Europe, 10,000 of these are in Germany.[/quote]

LOL don't know where you got that number from A-C. I wouldn't have thought Merkel agreed to €4.5bn in loans in exchange for Magna cutting 45% of Opels German workforce.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • Lexus LC500
    Car review
    20 October 2017
    Futuristic Lexus LC coupé mixes the latest technology with an old-school atmospheric V8
  • Maserati Levante S GranSport
    First Drive
    20 October 2017
    Get ready to trade in your diesels: Maserati’s luxury SUV finally gets the engine it’s always needed
  • Jaguar XF Sportbrake TDV6
    First Drive
    19 October 2017
    The handsome Jaguar XF Sportbrake exhibits all the hallmarks that makes the saloon great, and with the silky smooth diesel V6 makes it a compelling choice
  • Volkswagen T-Roc TDI
    First Drive
    19 October 2017
    Volkswagen's new compact crossover has the looks, the engineering and the build quality to be a resounding success, but not with this diesel engine
  • BMW M550i
    First Drive
    19 October 2017
    The all-paw M550i is a fast, effortless mile-muncher, but there's a reason why it won't be sold in the UK