A Peugeot car drives past the logos of French car maker Peugeot and German car maker Opel at a dealership in Villepinte, near Paris, France, February 20, 2017. REUTERS/Christian Hartmann
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PSA Group told German Chancellor Angela Merkel and top labor representatives that it would uphold Opel and Vauxhall job guarantees if it buys the European arm of General Motors, though some analysts say thousands of job losses are likely eventually. As part of a sweeping charm offensive of the political and automotive establishment in Germany, PSA Chief Executive Carlos Tavares discussed his plans with Merkel Tuesday, after seeking to reassure powerful German labor union IG Metall and Opel's European works council Monday about the impact of any deal on existing sites.However, some analysts say PSA will eventually need to make big cuts to turn around loss-making Opel and sister brand Vauxhall in a European car industry that has struggled for years with overcapacity.Germany accounts for about half of Opel's 38,000 staff, while 4,500 are in Britain where Opel operates as Vauxhall.
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