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China Daily | Updated: 2010-02-10 08:03
GM restructuring plan
General Motors Co's Opel unit said yesterday that it plans to invest 11 billion euros ($15 billion) through 2014 and appealed for government help as it detailed a restructuring drive that will result in about 8,300 job cuts across Europe.
Chef Executive Nick Reilly said as he presented Opel's restructuring plan that the automaker is seeking 2.7 billion euros from European governments in loans and loan guarantees. Parent General Motors Co has already injected 600 million euros along with 650 million euros in advanced payments to ensure Opel's cash positions.
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