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GM warns of 'horrendous losses' in Europe
Posted By -NO AUTHOR- On 02/12/2012 @ 1:24 pm In Money | No Comments
(DAILYMAIL) — Fears for thousands of British jobs and the future of Vauxhall’s UK car plant have surfaced after bosses at U.S. parent company General Motors warned of ‘horrendous’ losses in Europe to be announced next week.
Executives of the American car giant in Detroit say they are considering closing the Ellesmere Port factory in Cheshire as part of a major restructuring of its Vauxhall/Opel operation as it prepares to announce fourth quarter losses in excess of $300million (£190million).
An Opel factory at Bochum in Germany has also been cited for potential closure.
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