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Opel cuts working hours at German plants due to Brexit

Reuters - UK Focus

FRANKFURT, Aug 19 (Reuters) - General Motors (NYSE: GM - news) division Opel on Friday said it is cutting working hours at two German plants due to lower demand for its Corsa and Insignia models in the wake of Britain's vote to leave the European Union.

"We can confirm that there will be short-time work in the plants in Ruesselsheim and Eisenach during the course of this year," Opel said in a statement, adding that the number of days when shorter working hours apply will depend on the sales volume of the Insignia and the Corsa in the United Kingdom.

"The Brexit situation is an issue for everybody who does business in and with the UK at the moment and we already announced last month that there will be an impact on our European financial performance if the value of the pound remains at its current level for the rest of the year," Opel said. (Reporting by Edward Taylor; Editing by Maria Sheahan)