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German carmaker Opel halts voluntary redundancies

Opel has halted voluntary redundancies amid warnings that a wave of staff departures could leave the company short of skilled workers, Reuters reported May 12.

The German automobile manufacturer reportedly told the news outlet that it is suspending staff buyouts until negotiations between its management and the company's union group can be held at the end of May.

The report said staff representatives warned the company that departures following PSA Group's purchase of Opel could jeopardize expertise in key areas. PSA, which also owns French car brand Peugeot SA, acquired Opel from General Motors Co. for $2.6 billion in 2017.

PSA reportedly plans to cut 3,700 jobs at Opel's German factory by 2020 as part of a turnaround plan. "In Germany, we are relying on voluntary job reduction programs and are refraining from forced redundancies," an Opel spokeswoman told the newswire.

Last month, Reuters reported that Opel and another PSA Group brand, Vauxhall, plan to reduce dealerships as part of cost-cutting measures by Peugeot.