The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29 - Manufacture of motor vehicles, trailers and semi-trailers
2,500 jobs Number of planned job losses
Announcement Date
30 September 2001
Employment effect (start)
1 July 2002
Foreseen end date
1 December 2003
Description
In September 2001, Adam Opel AG, subsidiary of General Motors, introduced the `Olympia' restructuring programme, seeking to return the company to profitability. The programme includes measures such as the reduction of production capacity and savings in the area of supplies. In negotiations between the Opel German works council and national management, both parties agreed to reduce the company's workforce by 2,500 during the years 2002 and 2003. In October 2003, Opel is cutting the working week of about 5,500 employees to 30 hours. Opel said this was aimed at avoiding layoffs at a time when demand for new cars in Germany was weak.
Eurofound (2001), Adam Opel (General Motors), Internal restructuring in Germany, factsheet number 59369, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59369.
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