BREAKING NEWS

BREAKING NEWS

Opel and employees agree on German investments and job protections

Now Reading:

Opel and employees agree on German investments and job protections

Opel and employees agree on German investments and job protections
Text size Aa Aa

BERLIN (Reuters) - German carmaker Opel <PEUP.PA> said on Friday it has reached an agreement with workers on investments in German sites and job protection measures.

"Opel has now concluded the future collective agreement until July 2023 based on the position paper agreed in May," the automaker said in a joint statement with the IG Metall union and works council representatives.

The accord includes "extensive" employment protection measures, unspecified investments in Germany and the replacement of employment commitments made under Opel's previous owner General Motors <GM.N>, it said.

Opel's French owner PSA last year bought the loss-making manufacturer and its British sister brand Vauxhall from GM in a $2.6 billion deal. It aims to restore profitability at Opel by 2020 after two decades of losses at the unit.

(Reporting by Andreas Cremer; Editing by Tom Sims)

euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on euronews.com for a limited time.