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Opel Launches Voluntary Severance Pay Program

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Opel Launches Voluntary Severance Pay Program
Opel Launches Voluntary Severance Pay Program

Video: Opel Launches Voluntary Severance Pay Program

Video: Opel Launches Voluntary Severance Pay Program
Video: “What should I do if my employer offered a buyout or a Voluntary Severance Package?” 2023, June

The car manufacturer Opel wants to get rid of even more employees with the help of severance payments. The new program coordinated with the works council is aimed at employees who have not yet been eligible for the extended early retirement or partial retirement in November.

The company announced this on Tuesday in Rüsselsheim. According to information from “Wirtschaftswoche”, up to 275,000 euros gross per employee should be paid. Opel did not want to confirm this number on Tuesday. According to reports, this upper limit could even be exceeded according to certain criteria if, for example, employees have several children and decide very quickly. Managers and trainees should be exempt from the new severance payments.


For the rest, the “principle of double voluntariness” should apply. Opel could therefore contradict the severance pay request of indispensable employees. The company did not give any targets for the total possible effort and the number of employees who should leave.

Opel has too many staff on board

An Opel spokesman did not provide any more precise information about the early retirement and partial retirement programs that have been running for months. But both are very well received. Opel has too many staff on board to be able to meet the strict savings targets of the new parent company PSA, which took over Opel from General Motors last August. PSA boss Carlos Tavares and Opel boss Michael Lohscheller had promised that the renovation should take place without layoffs and plant closures.

According to its own information, Opel employs more than 35,600 people in Europe, including more than 19,000 at the German locations in Rüsselsheim, Kaiserslautern and Eisenach. The automaker is expected to deliver an operating profit of two percent of sales in 2020. Severance payments would then already be booked as restructuring expenses and would not burden the PSA balance sheet any further. (dpa)

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