Talks between German government ministers and GM and US government representatives are resuming in Berlin today to decide who will take over GM Europe.
The US parent has been ‘nationalised’, with the US government taking 72 per cent ownership, with the UAW union trust fund taking an 18 per cent stake and bond holders taking a ten per cent stake with debts guaranteed by the US Treasury.
General Motors has indicated it favours taking the Chapter 11 bankruptcy route with a ‘363 sale’ of assets as a going concern.
The fate of GM hinges in part on shedding its European operations, notably German unit Opel, which employs 25,000 in Germany, and Vauxhall in the UK which employs 5,000 workers.
All-night talks in Berlin ended in acrimony in the early hours yesterday.
It is commonly believed that the sale will see the closure of both UK plants – Vauxhall Ellesmere Port and GM in Luton.
There was huge anger in Luton town centre yesterday, at the prospect of the GM plant closing down.
Steve Davis, from Ellesmere Port, currently working in Luton, said: ‘All my friends and family in Ellesmere Port work for Vauxhalls. It is one of the biggest companies in the area.
‘Closing it will put a significant number of jobs and livelihoods at risk.
‘It affects everyone including the retirees, who have been promised by Vauxhall to be part of their car schemes.
‘I would support an occupation.
‘The Astra is one of the few cars manufactured in the UK and it must be saved.
‘My friend has done his apprenticeship on the line and he’s worked at Ellesmere Port since he was 16 years old.
‘What else can he do, he’s geared up to work in a car plant. There’s no other jobs for people.’
Christine O’Donnell and her friends said: ‘We support an occupation because we need jobs in Luton.
‘It is a really hard time at the moment.
‘The increase in unemployment, with Woolies closing and other shops closing, has had a massive effect in Luton.’
Sian Muggeridge said: ‘The closure of Vauxhalls would be extremely detrimental to Luton.
‘It is shocking that the best job that young people can get nowadays is in Asda.
‘We should do whatever is necessary to keep the plant open.’
Arnold, a pensioner, said: ‘I think it’s dreadful to see all these people losing their jobs.
‘The GM workers should fight for every job and not give in.
‘What work is there for young people to get now?
‘Middle-aged car workers with mortgages will be repossessed if they lose their jobs, especially as it’s hard to sell housing now.
‘A lot of young people leaving university now can’t get jobs.
‘The government should be forced to nationalise General Motors to protect jobs.’
