Magna Purchase Plan Calls For 10,000 Job Cuts at Opel in Europe

BERLIN, May 22, 2009; Andreas Moeser writing for Reuters reported that Magna International's concept for German carmaker Opel foresees 10,000 jobs cuts in Europe, including 2,500 in Germany, Rhineland-Palatinate state premier Kurt Beck said on Friday.

A competing offer by Italian carmaker Fiat included plans for 12,000 job cuts in Europe and would include far more cuts in Germany than Magna's plan, Beck told reporters.

Apart from the lower number of job cuts, Magna's concept also provided a better perspective on Opel's future, Beck said.