General Motors had planned on unveiling its turnaround plan for the Opel brand by December, but according to the man tasked with that job, Nick Reilly, that will not be happening.
GM Europe President, Nick Reilly, said in a blog post, “Although we had hoped to have the new business model finalized in December, it appears that more work needs to be done and further consultations will not be rushed.”
Reilly’s announcement for the delay comes just days after he said that he planned on presenting a plan outlining Opel’s future by mid-December.
Currently, Opel’s plans include cutting approximately 8,300 jobs as part of a $4.85 billion overhaul which would include receiving financial aid from Germany, Great Britain, Spain and Poland where Opel currently has factories.
Reilly said, “This is going to be one of the largest, most complex industrial reorganizations in European manufacturing in years. It will affect thousands of people and their families (and) impact plants and other stakeholders.”
In addition to being the GM Europe President, Reilly is also CEO of Opel and the sister brand, Vauxhall. Reilly had originally been instated on an interim basis in order to restructure Opel. Since beginning his job, GM has announced that it intends to keep Reilly on board as the CEO of Opel once the restructuring is complete.
