Plant closures will be avoided – for now – as part of General Motors Corp.’s previously announced plans to slash 12,000 jobs and cut €500 million ($673 million) from its European operations. General Motors Europe reached a framework agreement today (Dec. 9) with its employees. The restructuring effort aims to return GME to profitability after the automotive unit has posted annual losses every year since 2000 due to a struggling European economy, negative pricing, slumping sales and a ...
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