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GM to move out of Switzerland

General Motors (GM) wants to move its European headquarters to Germany from Switzerland before the end of the year, according to an Opel spokesman.

By moving its headquarters from Zurich to Opel's Rüsselsheim complex, the company wants to strengthen its subsidiary Opel, spokesman Ulrich Weber said. GM's Chevrolet brand will continue to keep its headquarters in Zurich.

Last week GM called off the planned sale of German-based Opel to car parts maker Magna and Russian lender Sberbank.

German Chancellor Angela Merkel had favoured that deal to save jobs. Merkel now says she wants GM to present a restructuring plan that gives Opel Europe and the German sites the chance of a good future.

Between 200 and 250 employees worked at the Zurich headquarters, according to Weber, but most have already returned to their home countries and many of whom had originally come from Rüsselsheim. and agencies


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