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UK: GM in job preservation promise
GM has announced that following its decision to retain its UK Vauxhall and European Opel Units, it still plans to cut capacity by 20% and as a result, some 9 – 10 000 jobs out of 50 000 European posts will go. Talks between the UK Government and the acting head of GM Europe, Nick Reilly, have confirmed the government’s willingness to provide financial support to GM’s proposed restructuring, meaning that according to Reilly, the two British plants had a “good future”. The Canadian car parts-maker Magna had been about to take control of GM’s Vauxhall/Opel business before GM cancelled the deal and had already announced 1200 UK job losses. Reilly said that there was a “good opportunity” to reduce the total of 800 redundancies which Magna had planned for the Ellesmere Port factory.