GM Guarantees German Jobs in Exchange for Pay Freeze
This article is for subscribers only.
General Motors Co. agreed to guarantee the jobs of more than 20,000 German workers in exchange for a wage freeze as the unprofitable Opel brand works to reduce spending.
German pay increases, put on hold in November as part of the negotiation process, will be postponed through 2015, the Ruesselsheim-based unit said in a statement today. GM will refrain from forced firings through 2016 as part of the deal.