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Magna Confirms Nearly 11,000 Job Cuts To Come In European Plants

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Excellent news for the jobless recovery.

The more jobs that are lost the stronger this jobless recovery will be.

Clearly global steel demand is rising meaning less workers are needed for the jobless recovery.

Viva jobless recovery.

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http://news.bbc.co.uk/1/hi/business/8255221.stm

25K jobs in Germany - all likely to be safe...around half of Europe's total.

Roughly 1/3 of non-German workers sacked would suggest even Unite's dire warning of 1/5 was an underestimate;

"Unite believes that Magna would sack 1,000 of Vauxhall's 5,000 workers and slash the value of their pensions if it took control of Opel."

http://www.guardian.co.uk/business/2009/au...ral-motors-opel

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Guest KingCharles1st
Excellent news for the jobless recovery.

The more jobs that are lost the stronger this jobless recovery will be.

Is this like the "debt is wealth" thingummy?

i.e. the more people lose their jobs, the stronger our economy actually IS? :wacko:

So in Brown's Britain, people who ***** a lot are a lot more attractive to women..? :lol:

Edited by KingCharles1st

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Is this like the "debt is wealth" thingummy?

i.e. the more people lose their jobs, the stronger our economy actually IS? :wacko:

So in Brown's Britain, people who ***** a lot are a lot more attractive to women..? :lol:

No British Plants to close apparently.

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No British Plants to close apparently.

Good news - but working numbers can still be halved which would amount to the same thing (though socially and politically it makes sense to spread the pain).

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No British Plants to close apparently.

A full workforce of 3 skilled workers to be retained at the downsized Elsmere Port lock up garage plant to glue the Vauxhall badges onto Opels. :lol:

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So Magna are the approved asset strippers for this job? It was the "Pheonix 4's" turn last time round or clearly they were too busy.

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Is this like the "debt is wealth" thingummy?

i.e. the more people lose their jobs, the stronger our economy actually IS? :wacko:

So in Brown's Britain, people who ***** a lot are a lot more attractive to women..? :lol:

Go on i can't guess what ***** is!

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Do you think all these job cut will help house prices?

;)

Mike

Depends if the taxpayer picks up the mortgage tab for the Vauxhall unemployed.

Generally speaking free money increases prices.

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Guest DissipatedYouthIsValuable

I'm just relieved. I thought the OP meant Magner's.

The last thing we want in these times is a cider shortage.

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I'm just relieved. I thought the OP meant Magner's.

The last thing we want in these times is a cider shortage.

Get back to your proctoscope

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Apart from the Astra car - which is made in 8 different factories (and some kit assembled ones too) - they don't make any cars here.

In terms of vans, they make only the Vivaro right, which is basically a rebadged Renault Trafic and is also knocked out in Spain by Nissan. The Movano is built for them by Renault, IIRC.

So, we have a van that's made in Spain as well and a car made all over the place. With global overcapacity, why not just shut both factories down - the cars would still be there - and it's not as if we care, we all still bought MINIs after BMW nicked it off MGRover. [what will we all do when we realise that they are starting to make MINI variants abroad ?]

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Until british jobs are as hard to get rid of as german ones, ours will always be first on the list.

Maybe it's more the fact the Germans had an election looming and got the cheque book out, meanwhile our great leader has already saved the world and doesn't think he need do anymore and frankly if you had saved the world you'd think the same too.

The Germans where panicking and panic first. Our dimwit thinks he's saved the world and can carry on spending and it's all going to be OK.

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http://www.nytimes.com/2009/09/15/business...ml?ref=business

As many as 10,500 Opel jobs in Europe could be cut, including nearly half of them in Germany, the co-chief executive of Magna International said Monday — a move likely to draw strident criticism in countries where the automaker has operations.

Speaking to reporters in Frankfurt, the executive, Siegfried Wolf, said part of his company’s plan for General Motors’ European unit envisions possible job cuts, including 4,500 in Germany, where Adam Opel is based. G.M. agreed last week to the sale of its European subsidiary to Magna and Russia’s Sberbank.

“We’ll do everything we can to avoid job losses,†Mr. Wolf said. “We might be able to save jobs with contract manufacturing.â€

Mr. Wolf did not say what plants would be affected or how many workers could be in danger of losing their jobs, but referred to Magna’s original plan, part of the bid it made in July, which envisioned cuts of up to 2,045 at the plant in Bochum, Germany; 830 jobs at the Vauxhall plant in Ellsmere Port, Britain; and 2,321 jobs at its plant in Antwerp, Belgium. Magna had pledged to keep all of Opel’s German factories open and limit job cuts to 2,500.

Last week, General Motors agreed to sell 55 percent of the unit to Magna International of Canada and Sberbank in a 50-50 split. G.M. will keep 35 percent, the biggest single stake in Opel, and Opel workers will hold 10 percent.

According to the NYTimes 50% will be in Germany.

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Until british jobs are as hard to get rid of as german ones, ours will always be first on the list.

This is true. I know first hand of at least one factory in Germany that wasn't shut down simply because of the cost of closing out german contracts.

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This is true. I know first hand of at least one factory in Germany that wasn't shut down simply because of the cost of closing out german contracts.

Ironically their worker's council framework (that protects worker's rights so strongly) was a direct result of the allies winning WW2.

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