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#292928 - 18th Feb 2009 6:20pm Jobs axe may hit Vauxhall Ellesmere Port
_jase_
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FEARS for jobs at Ellesmere Port’s Vauxhall plant grew today after US parent General Motors (GM) proposed plans to axe up to 47,000 workers.

The car giant presented shake-up plans to the US treasury department last night in return for state aid to save the ailing business from bankruptcy.

It has already received $13.4bn, but said it may need a further $16.6bn to keep it afloat after car sales in its US market plunged further.

Last December GM’s survival plan was based on selling 12.5 million cars. January sales now indicate that will fall to 9.5 million.

GM chief executive Rick Waggoner said GM’s latest proposal to cut jobs and five more US factories should return the business to profit within two years and in a position to repay its government loans by 2017.

However, his plan depends on further US government cash, with the alternative being bankruptcy.

But John Fetherstone, Unite the Union convener at Vauxhall’s Ellesmere Port plant, which employs 2,200 workers, said even the bleakest scenario of bank-ruptcy could see the UK and European business survive.

“There is talk of spinning off GM Europe as a separate entity and we would demand support from our government.

“The German govern-ment is rapidly getting behind their plants, and we would want to see some comments from our government to show they are behind us.”

THE ECHO

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#293204 - 19th Feb 2009 7:42pm Crisis-hit car giant could offer shares to UK [Re: ]
_jase_
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Crisis-hit car giant could offer shares to UK


VAUXHALL parent group General Motors (GM) said it would consider offering shares to third parties in its UK and European arm in its bid to stave off bankruptcy.

The US business is seeking £21bn in aid from the US government to keep afloat, in addition to the £12.7bn already promised.

Yesterday it announced 47,000 global job losses and US car plant closures in a bid to rein in costs. Europe, including the Vauxhall badge in Britain, must make £850m savings.

John Fetherstone, Unite the Union convenor at Vauxhall in Ellesmere Port, said they hoped to avoid more cuts. He said a spin-off of the UK and Europe operation as a separate business had been mooted.

But reports from America indicated that US managers could consider offering a stake in GM Europe to third parties, including governments of countries with GM plants, in a bid to find extra cash.

New car registrations fell 27% year-on-year in January.

THE LIVERPOOL ECHO


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#293209 - 19th Feb 2009 8:00pm Re: Crisis-hit car giant could offer shares to UK [Re: ]
DavidB Offline
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Didn't they have money last month?
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#293217 - 19th Feb 2009 8:12pm Re: Crisis-hit car giant could offer shares to UK [Re: DavidB]
_jase_
Unregistered


this was all i could find mate.

Originally Posted By: _jase_

Eight month break deal for Vauxhall workers


VAUXHALL is offering workers an eight-month career break because of falling sales.

Workers opting for the sabbatical will be paid 30% of their salary.

It is the latest cost-cutting measure by the firm’s US parent General Motors.

It was dealt a huge blow in its fight for survival last night when a £9.3bn government rescue package collapsed.

The company said it was “reviewing all options”.

Staff at the Ellesmere Port plant were told they can take a “sabbatical” from January 1 to September 1 when a new three-shift working system will be introduced in time for production of the new Astra model.

A Vauxhall spokesman said: “It is part of a programme we announced to the plant this week offering the opportunity to consider taking a sabbatical.

“It is an open invitation and we will have to judge the responses because we would not want some key workers to take this. “

GM made the offer to all its manufacturing sites across Europe.

The spokesman said: “This is in response to the current extraordinary conditions we are suffering in Europe. We are not going to be producing vehicles every day of the week through 2009.”

Earlier this week Vauxhall revealed its Christmas break, which starts today, has been extended to a month due to falling orders.

Meanwhile Knowsley transmission plant Getrag Ford is the latest automotive company to announce lay-offs in response to falling volumes.


Union bosses: Vauxhall should ask for Govt cash

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