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Opel, Vauxhall seek to avoid forced layoffs in turnaround

Published: Thursday, November 09, 2017 @ 5:27 AM
Updated: Thursday, November 09, 2017 @ 5:26 AM


            An Opel Grandland is parked at the Opel headquarters in Ruesselsheim, Germany, Thursday, Nov. 9, 2017. (AP Photo/Michael Probst)
An Opel Grandland is parked at the Opel headquarters in Ruesselsheim, Germany, Thursday, Nov. 9, 2017. (AP Photo/Michael Probst)

European automakers Opel and Vauxhall said Thursday they want to hold onto all of their current manufacturing sites and avoid forced layoffs as part of a turnaround plan under French owner PSA Group.

Speaking 100 days after General Motors sold Germany-based Opel and Britain's Vauxhall to PSA, managers outlined a blueprint that will see the company become profitable again by 2020 and electrify all of their passenger car lines by 2024.

"Status quo is no option," Opel/Vauxhall CEO Michael Lohscheller said, as he presented a plan that will also see the company reduce the number of platforms on which models will be based and push into as many as 20 new markets including Argentina, Saudi Arabia and Taiwan.

PSA Group chairman Carlos Tavares warned that the turnaround would only work if unions representing the 38,000-strong workforce agree to a number of cost-saving measures. These will include flexible working time arrangements, buyouts and early retirement schemes.

"Opel is facing a dramatic situation," Tavares said. "There is no time to waste."

Tavares noted that the company has been burning through its cash supply and lost a total of 19 billion euros ($22 billion) between 1999 and 2016. The combined market share in Europe currently stands at a modest 5.7 percent.

"This plan is not a gimmick plan," Tavares said, adding that the engineering and design capabilities acquired with Opel/Vauxhall would help PSA Group as a whole achieve the ambitious goal of sharply cutting its vehicles carbon emissions as required under national and international rules.

The European Commission proposed Wednesday that 30 percent of new vehicles on the continent should be electric-powered by 2030 and average emissions of carbon dioxide in new vehicles should fall by 30 percent by 2030 from 2021 levels — a target that some in Europe's auto industry have criticized as too high.

Glassdoor names 50 most beloved CEOs in America

Published: Wednesday, June 08, 2016 @ 5:41 PM
Updated: Wednesday, June 08, 2016 @ 5:01 PM

H-E-B's Charles C. Butt made the list of America's 50 most beloved CEOs.
H-E-B's Charles C. Butt made the list of America's 50 most beloved CEOs.

The chiefs of Facebook, Google, Apple and Texas' beloved H-E-B all made the ranks on job site Glassdoor's list of top-rated CEOs of a large company in the U.S.

Glassdoor determined the 50 rankings by collecting anonymous employee reviews. Beating out well-known names like Facebook's Mark Zuckerberg, is Bob Bechek at No. 1. Bechek is the worldwide managing director of Bain & Company, a management consultant firm, and received a 99 percent approval rating from employees surveyed. 

Zuckerberg did make top 10 though, along with LinkedIn's Jeff Weiner, Apple's Tim Cook and Google's Sundar Pichai. A bit further down the list at No. 19 is H-E-B's CEO Charles C. Butt, who received a 95 percent approval rating. 

Satisfied employees gave reviews like "H-E-B has always been hreat with allowing Partners to have a flexible schedule" while negative reviews said the company is "very demanding" and "has you work full-time hours while keeping you on part-time status."

To see who else made the list and what employees had to say about each company, you can go here.