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
08:48aDJGENERAL MOTORS : GM Loses Bid to Curb Ignition Suits -- WSJ
06:53a CLARIFICATION : China-Auto Show-GM story
04/24DJGENERAL MOTORS : GM Loses Legal Bid to Limit Fallout From Ignition Switch Cases ..
04/24DJGENERAL MOTORS : GM Loses Legal Bid to Limit Fallout From Ignition Switch Cases ..
04/24 GENERAL MOTORS : GM appeal of ignition switch ruling rejected by high court
04/24 French prosecutors open Peugeot diesel-cheating probe
04/24 GENERAL MOTORS : fires 2,700 in Venezuela after plant closure - workers
04/24 SUPREME COURT : GM can't avoid defective ignition-switch lawsuits
04/24DJGENERAL MOTORS : GM Loses Legal Bid to Limit Fallout From Ignition Switch Cases ..
04/24 GENERAL MOTORS : Supreme Court rejects GM bid to block ignition switch suits
More news
Sector news : Auto & Truck Manufacturers - NEC
04:28p Germany opposes key EU car emission test reforms -document
12:42p Volvo profit jumps on cost cuts and strong truck demand
11:17a NISSAN MOTOR : Mitsubishi's new Indonesia plant studying production of Nissan de..
04/24 French prosecutors open Peugeot diesel-cheating probe
04/24DJDAIMLER : 1Q 2017 -- Forecast
More sector news : Auto & Truck Manufacturers - NEC
News from SeekingAlpha
09:20a General Motors' Dividends Are Undervalued
07:20a Does 2017 Weakness In GE, GM, IBM And UPS Mean A Recession Is Near?
04/24 THE NEW U.S. CAR SALES KING : Nissan Rogue
04/24 Supreme Court rejects GM's ignition switch challenge
04/24 Ford And GM
Advertisement
Financials ($)
Sales 2017 162 972 M
EBIT 2017 11 015 M
Net income 2017 8 692 M
Finance 2017 8 483 M
Yield 2017 4,70%
P/E ratio 2017 5,86
P/E ratio 2018 5,77
EV / Sales 2017 0,26x
EV / Sales 2018 0,26x
Capitalization 50 796 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 39,7 $
Spread / Average Target 17%
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-2.67%50 796
TOYOTA MOTOR CORP-14.40%174 324
VOLKSWAGEN AG7.61%79 253
DAIMLER AG-4.16%78 790
BAYERISCHE MOTOREN WER..-1.49%61 633
HONDA MOTOR CO LTD-7.18%52 029
More Results