GM Slashes Jobs Amid Europe Car Downturn
General Motors has announced European job cuts amid the sales downturn in the foreign car market.
The US parent firm of Britain's Vauxhall said it would aim to make $500m (£310m) in fixed-cost savings between 2013 and 2015.
It added the company was planning further job cuts in Europe as it seeks to break even on the continent by the middle of the decade.
GM said it will cut the shifts at its Opel plant in Eisenach, Germany, from three to two next year, according to a presentation made after the firm revealed its third quarter earnings.
The Detroit-based car maker, which needed a US bailout after the global financial crisis, posted a surprisingly strong Q3 profit.
However, it said the break even target in Europe comes as it plans to save as much as $1.8bn (£1.11bn) there this year.
The proposed cuts come days after Ford announced major job losses as part of its plans to reduce production in Europe.