GM, said on Friday that will close the Belgium – Antwerp by the end of 2010. 2, 600 workers will lose their jobs, and GM will have to pay termination benefits of nearly $532 million in order to close the plant in Antwerp.
Until the end of the year, GM and the Flemish government are in search to find a possible investor to sell the plant and in this way to save 2600 jobs.
The search will end in September and any potential buyer would determine how many employees it would hire, according to the filing.
According to The Wallstreet Journal, Opel announced that roughly 1,250 employees will accept the redundancy packages and leave their jobs by the end of June. The remainder of the 2,600 workers will wait until as late as September as GM and the Flemish government search for a new plant owner – and potentially a new employer for the workers.