Buyouts Seen As GM Cuts Europe Work Force
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General Motors Corp.'s German division announced a deal Thursday that will allow the struggling automaker to cut thousands of jobs while avoiding forced layoffs and offering generous incentives for employees to leave.
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General Motors Corp. GM.N will likely  cut some jobs in Europe and may close a plant there as part of  a restructuring plan under development to try to return the  region to profitability, the U.S. automaker said on Wednesday.
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General Motors may bundle its European operations in a new company based in Brussels in a move to cut costs and simplify management structures, a German newspaper reported on Saturday.
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General Motors Europe announced Thursday that it plans to cut 12,000 jobs on the continent by the end of 2006 in a plan aimed at saving &#36;617 million per year.
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General Motors (GM) plans to announce a massive restructuring Thursday that will eliminate as many as 12,000 jobs in Europe in a move to stem the five-year flow of red ink from its auto operations in the region.
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LONDON, December 9  - General Motors Corp (XGM.NYS) plans to cut 9,500 jobs at its German unit, Adam Opel AG, as part of its efforts to reduce its significant losses in Europe.
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Tens of thousands of General Motors workers across Europe were set to stop working on Tuesday in a sign of solidarity with their German colleagues, who face massive job cuts.
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FRANKFURT, Germany  - General Motors Corp.'s German division announced a deal Thursday that will allow the struggling automaker to cut thousands of jobs while avoiding forced layoffs and offering large incentives for employees to leave.
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The world&#39;s largest automaker launched negotiations with European employees after it unveiled the cost-cutting plans in October, triggering days of walkouts at GM&#39;s German plants.
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Blaming high labor costs and weak demand for cars, General Motors Europe said Thursday it plans to shed 12,000 jobs - almost 20 percent of its work force - in order to halt chronic losses.
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The General Motors&#39; European unit accepted a deal Thursday to cut as many as 12,000 jobs to end four years of revenue losses, the BBC reported.
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General Motors Corp.'s European unit Thursday announced a deal that will allow the struggling automaker to cut up to 12,000 jobs &#151; most of them in Germany, where it will offer generous incentives for employees to leave.
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General Motors Corp. GM.N, in the  midst of reassessing its unprofitable European operations, is  not ruling out closing a plant there and is likely to cut some  jobs, a GM spokesman said on Wednesday.
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General Motors'  European labor  force on Friday hailed news that the world's biggest carmaker  had decided to sell Belgian-made Opel Astras in North America  under the Saturn brand from late next year.
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General Motors will cut around 10,000 jobs in Europe in a drive to save some 500 million euros (&#36;613.4 million) a year and return its loss-making operations there to profit, a company source said on Wednesday.
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Just days after it announced deep job cuts in Europe, the General Motors Corporation is battling a wildcat strike at one of its biggest German auto plants, and a threat of wider disruptions.
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General Motors Europe will slash its workforce by around a fifth, cutting as many as 12,000 jobs in a bid to halt chronic losses in the region, the world&#39;s biggest carmaker said on Thursday.