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GM plans close plants in Europe

Friday, 23 March 2012
The vehicle manufacturer General Motors (GM) is planning to close one or two car plants in Europe as part of a savings program to save the loss unit Opel / Vauxhall.

According to Wall Street Journal, citing sources familiar with the plans, the company plans could be finalized and published in the coming weeks.

GM's European operations have lost billions in the last decade and to shut down auto plants is seen as crucial to restoring profitability in the region.

Unions have fought against and argued that GM can increase profitability by increasing sales.
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