The closure will affect about 3,300 Opel employees, leading to settlements and expenses for the training and transfer of employees to other jobs, which is expected to add up to more than half a billion Euros.
Opel has plans to build small components at the factory after 2016, and the warehouse at the facility is scheduled to remain operational. They will invest $60 million into the warehouse, creating 250 jobs and securing 430 more for the future.
The shutdown is the first closure of a car plant in Germany since World War II and is part of Opel’s initiative to return to profitability by mid-decade. The automaker lost 1.9 billion euros in 2012, $844 million in 2013 and more than $18 billion since 1999.