Adam Opel GmbH confirms plans for a reduction in its European production capacity of some 20%, which would cut from the General Motors Co. unit an estimated 8,300 jobs in the region and perhaps put it on profitable ground by 2012. But the much-anticipated plan for reorganization, delivered earlier today by Opel CEO Nick Reilly, hinges on €2.7 billion ($3.7 billion) worth of backing from European governments. Talks over the funding continue on both regional and country levels. In total, ...
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