GM's Opel move raises anger

Updated: November 06, 2009 00:13 IST

Fearing widespread layoffs, thousands of Opel workers walked off the job across Germany on Thursday to protest General Motors Co.'s decision to abandon the unit's sale to new owners, the workers hoped would preserve jobs.

GM\'s Opel move raises anger
Fearing widespread layoffs, thousands of Opel workers walked off the job across Germany on Thursday to protest General Motors Co.'s decision to abandon the unit's sale to new owners, the workers hoped would preserve jobs.
Their indignation was echoed by Russian and German leaders, who both questioned GM's decision. Russian Prime Minister Vladimir Putin claiming GM exhibited an "arrogant attitude" in abandoning months of negotiations. (AP photo)
GM\'s Opel move raises anger
Workers at Opel's headquarters in Ruesselsheim vented their frustration and anger at a rally. "Our trust (in GM) is now zero, and that is the heart of the problem," Klaus Franz, the head of Opel's employee council, told the workers. "We will stand together and fight for our future. We will not be defeated, we are proud, we are Opel."
Organizers estimated that 10,000 workers attended while police put the figure at 6,000. Smaller rallies were being held at factories in Bochum, Eisenach and Kaiserslautern. (AP photo)
GM\'s Opel move raises anger
General Motors Co. could tap some of the $50 billion in aid it has received from the U.S. government to help finance its plan to restructure its European Opel unit, GM's top executive said on Thursday. But CEO Fritz Henderson said it would do so only if necessary and would try to finance the $4.5 billion (3 billion euros) restructuring with loans from European countries, money generated by Opel and by reducing royalties that Opel pays GM for use of technology. (AP Photo)
GM\'s Opel move raises anger
GM's board shocked German leaders and labor unions by rejecting a plan to sell 55 per cent of Opel to a partnership of Canadian auto parts supplier Magna International Inc. and Russian lender Sperbank. The move angered politicians and labor leaders, who had expected the Magna deal to go through. Fearing widespread layoffs, thousands of Opel workers walked off the job across Germany on Thursday in protest.(AP photo)
GM\'s Opel move raises anger
Unions and employees had offered cost-cutting concessions to ease a Magna deal, such as forgoing pay increases, that are now off the table. GM will face a new battle to secure concessions for its own plan — and raised the prospect of a bankruptcy if it is blocked. (AP photo)
GM\'s Opel move raises anger
Employees of General Motors Co.'s unit Opel are planning protests and work stoppages at four German factories against the decision to abandon the sale of the automaker. Some 25,000 Opel employees were expected to vent their frustration and anger on Thursday at GM. (AP photo)

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