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PSA-Opel: Breakthrough in Opel restructuring with Seitz

Decisive breakthrough in Opel restructuring negotiations: Under Seitz' leadership, Opel has agreed a far-reaching restructuring package with the IG Metall union and Opel’s general works council.

Decisive breakthrough in Opel restructuring negotiations: Under Seitz' leadership, Opel has agreed a far-reaching restructuring package with the IG Metall union and Opel’s general works council. The planned staff reduction of 3,700 employees can be implemented immediately as part of a special volunteers programme. To secure the future of Opel's German sites, investments in the billions were committed. Other key elements include substantial wage savings totalling several hundred million and an extension of job protection until 2023, while an agreement was reached that the new collective agreement will completely replace the old collective agreements still agreed under General Motors.

"The measures adopted today are another milestone on the road to achieving the strategic goals of the PACE! Plan to achieve our goals: A recurring operating margin from the automotive business of two percent by 2020 and six percent by 2026," said Opel CEO Michael Lohscheller. These goals are also to be achieved with the measures already agreed in the framework agreement at the end of 2017 to exploit synergies within Groupe PSA.

Seitz advises PSA and Opel on labour law and strategy. In addition, the Seitz restructuring team was responsible for labour law project management and conception as well as the conduct of negotiations by name partner Dr. Stefan Seitz. Seitz has thus successfully completed another major project in a very short time, including the major restructuring measures at Karstadt, Homann (Theo Müller Group), Gothaer, Osram and R&V. The team of 40 lawyers specialising in employment law has extensive experience and expertise in national and international restructuring and major projects.


Consultants PSA / Opel: Seitz – Dr. Stefan Seitz (Partner Labor Law, Lead), Dr. Marc Werner (Partner Labor Law), Heinke von Netzer, Dr. Jeremy Bister und Andrea Klein (Salary Partner Labor Law), Dr. Maximilian Schmidt (Associate Labor Law and Privacy), Dr. Stephan Pötters, LL.M. (Associate Labor Law and Privacy), Shirin Imani (Associate Labor Law)

Works Council Advisor / IG Metall: Apitzsch Schmidt Klebe – Wolfgang Apitzsch ((Partner Labor Law, Lead), Prof. Dr. Marlene Schmidt ((Partner Labor Law), Luci Crone (Associate Labor Law)

Press Contact: Dr. Marc Werner m.werner(at)seitzpartner.de

 

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