GM Europe workers to protest 1.2bn cost cuts

By John Revill
Workers at General Motors' European brands have called a day of action on Thursday to protest the company's restructuring plans.
 
GM wants to save $1.2 billion in Europe this year. The company is considering cost-cutting measures, including the possible closure or spin offs of several its European factories.
 
The European Metalworkers' Federation (EMF) is asking the U.S. automaker's 55,000 workers at Opel, Vauxhall and Saab to join protests on Thursday.
 
"The European employees of Opel/Vauxhall and Saab need a sustainable and viable future for their companies in Europe," the EMF said in a statement Tuesday.
 
The EMF said it opposes plant closures and forced job cuts. The federation said GM needs to invest in environmentally friendly, dynamic and innovative vehicles and it called on European governments to help GM Europe by providing loan guarantees or taking stakes in the carmaker.
 
"The solution to the crisis is strong European co-ordination by all stakeholders," the EMF said.
 
GM's loss-making Swedish brand Saab filed for court protection from its creditors on Friday.
 
GM has said it will fund some of Saab's liquidity needs but that it will not keep the company beyond January next year. Saab is seeking $1 billion (793 million euros) to be self-financing.
 
Opel is asking for help from the German government to finance a 3.3 billion euro ($4.15 billion) liquidity gap through the end of 2011, according to company sources.
From: Automotive News Europe

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