Several months ago Motoring Weekly wrote an article about potential job losses at Opel and that was a follow up to an update to the purchase of Opel by the PSA Group who own Peugeot and Citroen. Last month (September), PSA announced that they had found a way to get rid of jobs and therefore reduce costs in the Opel/Vauxhall division - they would hopefully transfer them to … [Read more...]
PSA Group To Cut More Production Jobs
A few weeks ago I wrote an update regarding the purchase of Vauxhall/Opel by the PSA Group who own Peugeot and Citroen. In that article I described how a large carrot was dangled in front of the PSA CEO to get the new acquisition back in profit far quicker than he had done so at the parent company: two years instead of four. To get PSA profitable Carlos Tavares, the CEO, had … [Read more...]
Update on the Sale of Opel to the PSA Group
About a year ago General Motors sold its European business of Opel and Vauxhall to the PSA Group who own the Peugeot and Citroen marques. It was an interesting deal because Peugeot and Citroen have had their financial difficulties in the recent past and the GM Europe business has had 16 years of losses and only managed to take 6% of the European market. For General Motors it … [Read more...]
