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Ally and ResCap Reach Deal to Complete Restructuring


Ally Financial reached a deal with Residential Capital’s major creditors which would allow the company to complete its bankruptcy restructuring. This move is expected to allow the US Treasury, which still owns 74% of Ally, to begin the exit. Ally said that the plan reached with ResCap’s major creditors will settle the claims between the two companies and add other potential ...
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PSA Peugeot Citroen transfers half of Aulnay plant’s workforce to Poissy
PSA Peugeot Citroen convinced its employees to close the Aulnay plant earlier than scheduled, by moving half of the workforce to the Poissy plant. The French carmaker's restructuring measures have divided ...
Peugeot’s Restructuring Plan Temporarily Suspended by Paris Court
PSA’s decision to cut 8,000 jobs in France has been temporary suspended by the Paris Court of Appeal. The ruling was made public today, January 29th, and state that the court ...
GM Plans Gradual Restructuring for Opel
GM announced it will choose a gradual restructuring for Opel despite rumored pressure from the French government for a more transformative alliance with PSA. Unlike its rival Ford Motor, which chose ...
GM to sell French transmission plant to steam losses
General Motors Co., has announced that will sell a transmission plant in France to a private Belgian company as part of an effort to and losses in Europe. According to GM, ...
Fiat’s Shares Down Due to Restructuring Plan
Fiat’s shares have dropped as investors fear that the automaker will have to raise fresh cash to be able to buy Chrysler Group. According to Philippe Houchois, a London-based UBS analyst, ...
Opel won’t make similar cuts in Europe as Ford, union boss says
General Motors' European unit Opel will not see more severe downsizing than Ford's restructuring measures in Europe, Opel top labour leader said. Ford decided to close three factories and cut 5,700 ...
EU Industry Commissioner vows to help Europe’s car sector
EU Industry Commissioner Antonio Tajani today promised to take action to help Europe's suffering carmakers. Tajani said he will address the automotive sector's problems and restructuring in “an urgent and co-ordinated ...
GM targets $500 million in cost savings, plans job cuts in Europe
General Motors aims to reduce costs by $500 million between 2013 and 2015 and plans to make further job cuts in Europe. The move is part of GM's plan to break ...
Opel’s Restructuring Plan to Be Reached in 2013
Opel might need three more months to close a deal with German unions regarding the restructuring plan. According to this restructuring plan, the automaker will close the Bochum factory, sending home ...

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