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Opel confirms painful restructuring plan

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Opel confirms painful restructuring plan

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A painful restructuring plan has been confirmed by Opel, the European division of General Motors.

The company says it will go ahead and cut 8,300 jobs in Europe, just under half of them in Germany. Its total European workforce is 50,000.

It has also confirmed the closure of its Antwerp plant, with the loss of close to 2,400 jobs.

Opel says it wants to invest 11 billion euros in a new strategy to turn around the company.

But it has been at loggerheads with the unions over the restructuring plan.

Opel has also requested financial assistance from the governments in countries where it has factories.