Corporate turnarounds don’t happen without cost cuts, and Opel/Vauxhall has warned from the start that significant changes were needed. Up against formidable German labour unions, negotiations could have proven a serious obstacle. However, the company has now announced an update in labour talks and a general ‘social framework’….
German unions on board with Opel cost cuts
Bound by a pledge to avoid forced redundancies and plant closures, Opel instead turns to early retirement, shorter working hours and joint procurement. By Megan Lampinen