Magna hints at 800 Vauxhall job losses
Magna hints at 800 Vauxhall job losses
Tuesday 15th September 2009
The incoming owner of Vauxhall has admitted that hundreds of jobs could be lost when its takeover of the carmaker is completed.The co-chief executive of Canadian car parts manufacturer Magna, which bought a 55 per cent stake in Vauxhall's European owner Opel - itself previously owned by General Motors - hinted at job losses of 10,500 across the company.
Siegfried Wolf refused to directly comment on restructuring plans but referred journalists back to the plans submitted as part of its consortium bid back in July.
Under those plans 10,500 jobs would be lost across the continent, including 800 at Vauxall's Luton and Ellesmere Port plants.
"We'll do everything we can to avoid job losses," Mr Wolf said today.
"We might be able to save jobs with contract manufacturing."
If the original plans were executed, 2,045 jobs would be shed at Germany's Bochum plant, while 2,321 would be lost in Antwerp, Belgium.
Vauxhall currently employs 5,500 people in Britain, the majority of whom work at the two manufacturing plants.
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