Opel has reached a severance deal with workers at its factory in Bochum, Germany. The automaker closed the factory as part of its restructuring in December of last year.
The brand had been negotiating with German labor union IG Metall in regards to a severance deal since it made the announcement of the factory’s closure last year. The exact details of the severance deals are not known, however Opel said it had come to “binding and reliable” agreements with the union in a statement.
The factory cost Opel approximately 500 million euros to close. The shutdown of Bochum was the first closure of a car plant in Germany since World War II and is crucial to Opel’s initiative to return to profitability by mid-decade.