General Motors Co.'s key European Opel and Vauxhall units will have to cut capacity across Europe by between 20% and 25%, GM Europe Chief Executive Nick Reilly wrote Friday on his blog.
"We are still finalizing the details on the plan, and that is why next week I will be back in Brussels, meeting with European Union representatives as well as governmental officials from the five countries where we have plants," Reilly said.
EU Commissioner for Industry, Guenther Verheugen, has invited EU economics ministers and General Motors' management to meet in Brussels Monday.
"I intend to present by mid-December a sustainable plan that is in the best interest of Opel and Vauxhall; one with clearly defined, achievable results," Reilly said on his blog.
In early November, GM abandoned a plan to sell Opel and Vauxhall to a consortium led by Canadian auto-parts maker Magna International Inc. (MGA).
Since then, GM hasn't presented any detailed plans for how to restructure the Opel and Vauxhall operations, in particular on how many jobs will have to be shed and which -- if any -- of the plants in Europe will have to be closed.
