This article is from the source 'guardian' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.theguardian.com/business/live/2017/mar/06/vauxhall-opel-sold-jobs-deal-aberdeen-standard-live-business-live
The article has changed 17 times. There is an RSS feed of changes available.
| Version 12 | Version 13 |
|---|---|
| Vauxhall sold: Peugeot plays down job cuts and Brexit fears - live updates | Vauxhall sold: Peugeot plays down job cuts and Brexit fears - live updates |
| (about 1 hour later) | |
| 4.20pm GMT | |
| 16:20 | |
| Jim Cunningham urges caution, warning that the promises made need to be kept as they have not always been in the past. | |
| Clark: I am cautiously optimistic. The commitments go in the right direction. | |
| We have to do everything we can to make sure [a positive future for the car industry] is achieved. | |
| And with that the house moves on to the Fox bid for Sky which is being covered in our politics live blog here: | |
| 4.09pm GMT | |
| 16:09 | |
| Geoffrey Robinson says the reassurances are very limited in extent and duration, and he refers to the closure of the plant at Ryton, adding that the only reassurance that counts is getting replacement models in the UK and the government should push for this. | |
| Clark says we do need to stay engaged and make sure these commitments are delivered. It is important these commitments have been given, and in writing. It is a different management now {to the time when Ryton was closed] and the strategy is not based on closing plants. | |
| Updated | |
| at 4.11pm GMT | |
| 4.01pm GMT | |
| 16:01 | |
| Alistair Burt, wants assurances that jobs in the supply chain are secure. | |
| Clark says both the direct workforce and supply chain part of our discussions. [This is] an opportunity to expand the supply chain. | |
| 4.00pm GMT | |
| 16:00 | |
| Shadow minister Rebecca Long Bailey says workers will be worried about the future of their jobs, and what assurances are there on the Vauxhall plant beyond the existing contracts. Will the production of the new Astra model take place in the UK? With the GM pension deficit, are pensions guaranteed in full? | |
| The government has little power in takeovers - are there any plans to broaden the definition of public interest in takeovers. What support was offered to PSA following Britain’s exit from the European Union? | |
| Greg Clark says these have been worrying times for the workforce. [But] the statements made have been welcomed, not just by me, by trade unions. | |
| The company has said it will honour agreements they have, at least to 2021. Both principal models in UK are early in the cycle. | |
| On pensions, they have given an absolute commitment no pensioner will be worse off. The pensions regulator is also required to confirm any changes in arrangements. | |
| As for the takoever regime, this is one overseas company taking over another. But we have agreed with our French and German [counterparts] that we should take a consistent approach. | |
| As for support available for automotive sector: we hope future owners will take part in support available. | |
| 3.55pm GMT | |
| 15:55 | |
| Greg Clark, business, energy and industrial strategy secretary, is answering questions in parliament on the Vauxhall takeover. | |
| He said the discussions which have taken place can give confidence to the Vauxhall workforce now and for the future. | |
| “We are determined [Vauxhall cars] should continue to be made [here] for many years to come.” | |
| He said there had been a number of important commitments made: the new owners will honour existing agreements with the workforce; pensioners will be in at least as good a position in future as they are today; the UK division will be treated the same as other parts of the business; they will build on existing agreements and not plant closures. | |
| Updated | |
| at 4.24pm GMT | |
| 2.59pm GMT | 2.59pm GMT |
| 14:59 | 14:59 |
| General Motors shares have opened lower in early US trading following the deal to sell Opel-Vauxhall to Peugeot. | General Motors shares have opened lower in early US trading following the deal to sell Opel-Vauxhall to Peugeot. |
| They are currently down 0.5%, worse than the 0.2% decline on the Dow Jones Industrial Average. The overall market has been hit by a number of new concerns, not least the launch of four missiles by North Korea and Donald Trump’s accusations that his were tapped on the orders of Barack Obama. | They are currently down 0.5%, worse than the 0.2% decline on the Dow Jones Industrial Average. The overall market has been hit by a number of new concerns, not least the launch of four missiles by North Korea and Donald Trump’s accusations that his were tapped on the orders of Barack Obama. |
| Updated | Updated |
| at 3.00pm GMT | at 3.00pm GMT |
| 2.53pm GMT | 2.53pm GMT |
| 14:53 | 14:53 |
| PA also has more comments from Vauxhall workers arriving for work: | PA also has more comments from Vauxhall workers arriving for work: |
| Workers clocking in for their afternoon shift at Luton’s Vauxhall plant reacted with a mix of emotions to news of the company’s sale to French group PSA. | Workers clocking in for their afternoon shift at Luton’s Vauxhall plant reacted with a mix of emotions to news of the company’s sale to French group PSA. |
| Many staff who were yet to start their shift said they only heard about it on the news or online, not from their employer. | Many staff who were yet to start their shift said they only heard about it on the news or online, not from their employer. |
| Paintshop worker Joshua Taylor, 25, expressed uncertainty over job security, saying: “No-one actually knows what’s going on. We haven’t been told if our jobs are safe. | Paintshop worker Joshua Taylor, 25, expressed uncertainty over job security, saying: “No-one actually knows what’s going on. We haven’t been told if our jobs are safe. |
| “I looked over the plants Peugeot bought and it doesn’t look promising.” | “I looked over the plants Peugeot bought and it doesn’t look promising.” |
| James Upton, 26, who has worked at the plant for two years, said: “I’ve had jobs before but this is the one that’s actually stuck. | James Upton, 26, who has worked at the plant for two years, said: “I’ve had jobs before but this is the one that’s actually stuck. |
| “Around here, it’s kind of difficult when you go on the Jobcentre websites and you apply for loads of stuff but nothing ever really comes through, and you think ‘I have to go further afield’.” | “Around here, it’s kind of difficult when you go on the Jobcentre websites and you apply for loads of stuff but nothing ever really comes through, and you think ‘I have to go further afield’.” |
| He said he does not know much about the deal, and described the arrangement by the French car giant as “coming at you fast”. | He said he does not know much about the deal, and described the arrangement by the French car giant as “coming at you fast”. |
| Asked about the mood among his colleagues, he said: “I haven’t gone in there yet to see how everyone’s reacting but I’m sure they’ll be the same as always. | Asked about the mood among his colleagues, he said: “I haven’t gone in there yet to see how everyone’s reacting but I’m sure they’ll be the same as always. |
| “As long as people get paid, they’re happy.” | “As long as people get paid, they’re happy.” |
| Teresa Carway, 63, is retiring at the end of the week after 39 years of service at the Luton plant, and she said the announcement “couldn’t have come at a better time for me”. | Teresa Carway, 63, is retiring at the end of the week after 39 years of service at the Luton plant, and she said the announcement “couldn’t have come at a better time for me”. |
| However she said other colleagues who are coming up to their retirement are concerned. | However she said other colleagues who are coming up to their retirement are concerned. |
| She said: “I think a lot of people are worried because the average age around here is 52 or 53. But if they could get another five, six years out of here, then they can retire.” | She said: “I think a lot of people are worried because the average age around here is 52 or 53. But if they could get another five, six years out of here, then they can retire.” |
| Mrs Carway, who works in the bodyshop assembling bolts on van doors, was hopeful for newer staff | Mrs Carway, who works in the bodyshop assembling bolts on van doors, was hopeful for newer staff |
| “(The plant) have taken on loads of new workers,” she said. “They’ve taken on around 300 young workers in the last year.” | “(The plant) have taken on loads of new workers,” she said. “They’ve taken on around 300 young workers in the last year.” |
| 2.50pm GMT | 2.50pm GMT |
| 14:50 | 14:50 |
| No specific assurances given to Peugeot - PM's spokesman | No specific assurances given to Peugeot - PM's spokesman |
| More from the prime minister’s spokesman on Vauxhall, courtesy the Press Association: | More from the prime minister’s spokesman on Vauxhall, courtesy the Press Association: |
| Mrs May’s official spokesman insisted that no specific assurances had been given to Peugeot to secure the future of the UK plants. | Mrs May’s official spokesman insisted that no specific assurances had been given to Peugeot to secure the future of the UK plants. |
| The PM had made clear to the company that she wanted the “long history of success” at Vauxhall to continue in this country, said the spokesman. | The PM had made clear to the company that she wanted the “long history of success” at Vauxhall to continue in this country, said the spokesman. |
| But he added: “In terms of specific assurances - none sought, none given. | But he added: “In terms of specific assurances - none sought, none given. |
| “We have a stated position that we will ensure the competitiveness of this country when it comes to the supply chain, research and development and trade.” | “We have a stated position that we will ensure the competitiveness of this country when it comes to the supply chain, research and development and trade.” |
| 2.19pm GMT | 2.19pm GMT |
| 14:19 | 14:19 |
| Summary: Are Vauxhall-Opel jobs really safe? | Summary: Are Vauxhall-Opel jobs really safe? |
| Time for a quick recap, with links to the main points. | Time for a quick recap, with links to the main points. |
| General Motors has denied that job cuts are inevitable after agreeing the sale of its European operations to PSA Group. | General Motors has denied that job cuts are inevitable after agreeing the sale of its European operations to PSA Group. |
| GM is offloading Britain’s Vauxhall and Germany’s Opel to the owner of Peugeot and Citroën, in a €2.2bn deal announced this morning. | GM is offloading Britain’s Vauxhall and Germany’s Opel to the owner of Peugeot and Citroën, in a €2.2bn deal announced this morning. |
| PSA has insisted that staff across its business will get a fair chance to show they can hit productivity targets. CEO Carlos Tavares told reporters in Paris that simply shutting factories down was “rather simplistic”. | PSA has insisted that staff across its business will get a fair chance to show they can hit productivity targets. CEO Carlos Tavares told reporters in Paris that simply shutting factories down was “rather simplistic”. |
| Tavares also pledged to stick to existing deals with Vauxhall workers, and General Motors CEO Mary Barra also claimed that the deal was a win-win for both sides. | Tavares also pledged to stick to existing deals with Vauxhall workers, and General Motors CEO Mary Barra also claimed that the deal was a win-win for both sides. |
| But unions, and individual workers at Vauxhall, are concerned that jobs could be lost - especially if the plants at Ellesmere Port and Luton don’t secure pledges to manufacture new models. | But unions, and individual workers at Vauxhall, are concerned that jobs could be lost - especially if the plants at Ellesmere Port and Luton don’t secure pledges to manufacture new models. |
| Some industry analysts have also predicted job cuts as PSA looks to consolidate its operations. | Some industry analysts have also predicted job cuts as PSA looks to consolidate its operations. |
| The UK government is hopeful that Vauxhall could thrive under PSA’s ownership. | The UK government is hopeful that Vauxhall could thrive under PSA’s ownership. |
| A spokesman for Theresa May told reporters that: | A spokesman for Theresa May told reporters that: |
| The prime minister set out to Ms Barra the importance of the Vauxhall brand to the UK and reiterated her desire for the jobs at both plants to be secured for the long term. | The prime minister set out to Ms Barra the importance of the Vauxhall brand to the UK and reiterated her desire for the jobs at both plants to be secured for the long term. |
| Ms Barra made clear that Vauxhall would remain a British brand and that the deal would recognise and respect all agreements regarding the workforce. | Ms Barra made clear that Vauxhall would remain a British brand and that the deal would recognise and respect all agreements regarding the workforce. |
| Both the prime minister and Ms Barra expressed their confidence that the deal had the potential to strengthen the Vauxhall brand and allow for further growth, supported by the government’s Industrial Strategy and the continued strength of the automotive sector in the UK. | Both the prime minister and Ms Barra expressed their confidence that the deal had the potential to strengthen the Vauxhall brand and allow for further growth, supported by the government’s Industrial Strategy and the continued strength of the automotive sector in the UK. |
| (that’s via our Politics Live blog) | (that’s via our Politics Live blog) |
| Local MPs have also been banging the drum, insisting that Vauxhall plants are already pretty efficient. | Local MPs have also been banging the drum, insisting that Vauxhall plants are already pretty efficient. |
| Labour’s Justin Madders, who represents Ellesmere Port, says: | Labour’s Justin Madders, who represents Ellesmere Port, says: |
| There is no doubt that we have some of the most efficient plants in Europe so we have a good tale to tell and we should not underestimate the positive impact on sales that having a U.K. manufacturing base brings. | There is no doubt that we have some of the most efficient plants in Europe so we have a good tale to tell and we should not underestimate the positive impact on sales that having a U.K. manufacturing base brings. |
| There should be no doubt that one of the biggest selling points to UK consumers is that Vauxhall is a British brand that supports British jobs. That is something that I know will be stressed to PSA. | There should be no doubt that one of the biggest selling points to UK consumers is that Vauxhall is a British brand that supports British jobs. That is something that I know will be stressed to PSA. |
| 2.02pm GMT | 2.02pm GMT |
| 14:02 | 14:02 |
| General Motors was adamant this morning that its European business would have broken even last year, if it wasn’t for the Brexit vote. | General Motors was adamant this morning that its European business would have broken even last year, if it wasn’t for the Brexit vote. |
| As this chart show, that didn’t happen -- although GM has been clawing its way back to profitability since the financial crisis.... | As this chart show, that didn’t happen -- although GM has been clawing its way back to profitability since the financial crisis.... |
| 17 years of GM losses in Europe, all in one chart. Total = $22.5 billion pic.twitter.com/QPkCqnt1mR | 17 years of GM losses in Europe, all in one chart. Total = $22.5 billion pic.twitter.com/QPkCqnt1mR |