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Opel, the European arm of General Motors, has said its reached a severance deal with workers at its Bochum factory in Germany, a crucial step in the automaker’s restructuring. Opel management has been negotiating with labor union IG Metall about the terms of a severance deal after it decided to close the Bochum factory in April last year, as part of a drive to bring down costs in Europe. The closure of Bochum is set to cost at least 550 million euros ($754 million), two sources familiar with the matter told Reuters in May.



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