Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  General Motors Company    GM

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector newsTweets 

General Motors Company : Opel revamp deal expected this week - German union

share with twitter share with LinkedIn share with facebook
share via e-mail
0
02/28/2013 | 01:35pm CEST

German union IG Metall expects to strike a deal this week with General Motors Co's Opel unit over the restructuring of the carmaker's German operations.

"We are just about to reach an agreement," said a spokesman for IG Metall on Thursday.

The negotiations, which started in June and were supposed to complete by the end of October, could be concluded on Thursday but may need an extra day, according to the union spokesman.

Opel could not be reached immediately for comment.

The deal is expected to extend job guarantees by another two years to 2016 for all four German plants, which together employ around 20,000 workers.

At the start of 2017 at the latest, however, assembly lines at the Bochum car plant will cease running and only some components and warehousing jobs will remain under the deal.

A union source involved in the negotiations told Reuters labour leaders were not willing to agree on further wage concessions and job cuts in Bochum.

Workers fear GM wants to "hollow out" Opel, where labour has had certain rights under German law ever since it became a joint stock company in 2010.

Operating assets outside of Germany once owned by the company were being successively regrouped directly under parent GM, triggering union suspicions that Detroit wanted to undermine union influence in product, investment and strategy decisions.

Unions want to avoid further decisions such as the one taken a year ago to build the Opel Antara SUV in South Korea, taken by parent GM above the heads of Opel management and its supervisory board, in which unions have a seat at the table.

GM's second-largest brand behind only Chevrolet, Opel has lost billions in recent years as Europe's car market has plumbed near 20 year lows, despite repeated bouts of job cuts that included closing a car plant in Belgium at the end of 2010.

(Editing by David Holmes)

By Jan Schwartz and Christiaan Hetzner

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on GENERAL MOTORS COMPANY
03/26 General Motors, Walmart, Pepsico and FX Networks also suspend Google ads
03/24 GENERAL MOTORS : 2 Millionth Duramax Diesel Engine Rolls off the Line
03/23 GENERAL MOTORS : How self-serve kiosks can rescue corporate dining — part ..
03/23 FORD MOTOR : Higher investments, sales drop to weigh on Ford first-quarter earni..
03/23 FORD MOTOR : Higher investments, sales drop to weigh on Ford first-quarter earni..
03/23 GENERAL MOTORS : Secretary of Transportation Speaks at Women's History Month Cel..
03/23 GENERAL MOTORS : Penn State students meet General Motors sustainability director
03/22 GENERAL MOTORS : Wy using journalism opportunity to become role model for others
03/21 GENERAL MOTORS : Opel innocentée en France
03/21 French prosecutor opens Fiat Chrysler emissions investigation
More news
Sector news : Auto & Truck Manufacturers - NEC
09:24a Hyundai suspends China plant for a week amid diplomatic stand-off
06:31a Honda faces long haul to recoup jet costs
03/24 Infineon raises 2017 outlook on stronger automotive orders
03/24 Exclusive - EIB asks French diesel inquiry to probe Renault's use of loans
03/24 VOLKSWAGEN : German environmental lobby sues motor authority over VW scandal
More sector news : Auto & Truck Manufacturers - NEC
News from SeekingAlpha
03/25 Why Should You Buy General Motors Despite The Ruckus In The Auto Sector
03/25 U.S. auto sales track higher as incentives jump
03/24 California upholds emissions standards, in public rebuke of Trump's plans
03/24 NOT ONLY GOOGLE : Apple Loves Fiat-Chrysler Too, As Evidenced By New Picture
03/24 WSJ : YouTube ad issue persists, PepsiCo, Wal-Mart Stores, General Motors, Starb..
Advertisement
Financials ($)
Sales 2017 162 637 M
EBIT 2017 10 856 M
Net income 2017 8 744 M
Finance 2017 9 153 M
Yield 2017 4,61%
P/E ratio 2017 5,95
P/E ratio 2018 5,78
EV / Sales 2017 0,26x
EV / Sales 2018 0,26x
Capitalization 51 770 M
More Financials
Chart GENERAL MOTORS COMPANY
Duration : Period :
General Motors Company Technical Analysis Chart | GM | US37045V1008 | 4-Traders
Full-screen chart
Technical analysis trends GENERAL MOTORS CO...
Short TermMid-TermLong Term
TrendsBearishNeutralBullish
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 21
Average target price 39,3 $
Spread / Average Target 14%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Mary Teresa Barra Chairman & Chief Executive Officer
Daniel Ammann President
Charles K. Stevens Chief Financial Officer & Executive Vice President
Randall D. Mott Chief Information Officer & Senior Vice President
Patricia Fiorello Russo Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
GENERAL MOTORS COMPANY-0.80%51 770
TOYOTA MOTOR CORP-9.42%182 500
DAIMLER AG-0.23%81 489
VOLKSWAGEN AG1.84%74 651
BAYERISCHE MOTOREN WER..-5.71%58 626
HONDA MOTOR CO LTD0.88%55 951
More Results