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Business

GM Savings to Hit Opel

American car manufacturer General Motors (GM) intends to save more than €500 million ($619 million) on its operations in Europe in a move that will likely have severe repercussions for its German subsidiary, Opel. GM's head of operations in Europe, Fritz Henderson, described the situation at Opel as "completely unacceptable," and is demanding that the company start showing profits in 2005. Opel stands to lose as many as 7,000 jobs through the GM savings measures. Germany's state premier in Hesse, Roland Koch, has vowed to fight for the Opel factory in Rüsselsheim. Speaking on German television on Sunday, Koch said Germany has to prove that it can build cars for the same price as France and Sweden.