Opel wage concessions to fund new models: source

 @ibtimes
on May 21 2010 8:16 AM

Opel will finance the development of new products using wage concessions from its European workforce worth 265 million euros ($329 million) annually, a source familiar with the matter said on Friday.

According to a deal worked out between labor leaders and management due to be signed next week, the savings would be administered by a trustee who would guarantee the proper use of the funds.

(Reporting by Angelika Gruber)

Share this article

More News from IBT MEDIA