A blitz against losses

Forster unveiled proposals to return the General Motors subsidiary to profit in 2003 by boosting revenue and by generating more than $1.8 billion in savings through job cuts and lower production capacity.

The company, which posted a $455 million operating loss last year as it continued to lose market share across Europe, said it needs to reduce annual production capacity by between 300,000 and 350,000 units.

Forster, a former BMW AG executive who joined Opel in April, will begin talks with the company's unions today, Aug. 20, to decide how to implement the cuts.

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