Nick Reilly, president of General Motors Co.'s GM Europe unit, said the restructuring of the company's Opel division is nearly complete and that he expects about 8,300 jobs to be eliminated.
He described Opel's restructuring as "90 percent, 95 percent final" in a conference call today. In response to a question about pending job cuts, Reilly said "the number you've quoted of 8,300 is pretty close to the right number."
The company expects the German government to join others in Europe in providing aid for Ruesselsheim, Germany-based Opel's restructuring, Reilly said, citing "positive signals" on assistance from most countries with Opel plants.
Reilly said he may announce his management team next week. Success for Opel will require the development of a "mini" car as well as hybrid and gas-powered vehicles, he said.
General Motors is seeking 2.7 billion euros ($4 billion) from European Union countries where Opel and its sister Vauxhall brand have plants, with GM providing the remaining 600 million euros in a planned 3.3 billion-euro reorganization of the unit.
