As part of a 10-year turnaround plant for Opel/Vauxhall, called “Drive Opel 2022,” some hefty downsizing will happen to its white-collar workforce, as it has been reported that as many as 1,000 administrative jobs will be eliminated. That translates to roughly 30 percent of the administrative positions at Opel, some of which pay as much as 100,000 euros ($129,000) annually.
With a division that has been bleeding money, and has been criticized of keeping GM’s shares priced lower than the ideal amount, this seems to be a necessary move. But a 10-year plan for sustainability? Can anybody wait that long?