General Motors Europe: management terminates European framework agreement on working time reduction signed at Opel

vings program amounting to 1bn euros presented at Opel, GME’s management announced a cut in managers’ wages and terminated a framework agreement which provided, among others, that there would be no site closures or mass layoffs. Opel’s EWC is waiting for more details. (Ref. 090503)

Motivated by its CEO, Carl-Peter Forster, GME’s management announced that, as part of a savings program, GME and Opel’s executives would be subject to a 10% wage cut. Given the group’s results, the 300 people concern