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Opel and Vauxhall

Magna confirms job cuts at Opel, Vauxhall

Tue, 09/15/2009 - 01:32 by Salinder Kumar

Aurora, Ontario -- A top Magna International Inc. executive said the purchase of Opel and Vauxhall would include reducing the workforce by about 10,500 workers.

General Motors Co. agreed last week to sell 55 percent of its European operations to the Canadian auto parts supplier in a joint venture with Russia's Sberbank.

Magna had warned of job cuts before GM's board selected its bid, the Canadian Broadcasting Corp. reported Monday.

On Monday, co-Chief Executive Officer Siegfried Wolf confirmed the job reductions.

Wolf said 4,500 jobs would be cut in Germany, where Opel is made. The operations currently include 25,000 employees in Germany, 5,500 in Britain -- where Vauxhall brand cars are made -- and thousands more in other countries.

GM has found buyer for Hummer: Report

Tue, 06/02/2009 - 10:28 by Salinder Kumar

New York, June 2: (DPA) General Motors is expected to announce later Tuesday the tentative sale of its muscle Hummer brand, but won't identify the buyer or price until later, The Wall Street Journal reported.

The announcement is to be made on its first day of bankruptcy court proceedings after the country's largest car maker and the White House announced Monday that GM would pursue protection under US bankruptcy laws.

The Journal quoted people familiar with the Hummer deal, which would provide for GM to continue producing H2 and H3 trucks and SUVs for the buyer at Louisiana and Indiana plants.