FRANKFURT General Motors' (GM.N) European unit Opel has earmarked 500 million euros ($631.3 million) to cover the cost of jobs it will have to cut if it shuts its factory in Bochum, German WAZ group newspapers cited labor leader Rainer Einenkel as saying.
"But if you include general closure costs and restructuring costs, that will reach about 1 billion euros," Einenkel was quoted as saying in an excerpt of an article to be published on Monday.
Opel is negotiating a deal with labor unions to close the Bochum plant, which has 3,300 workers, after production of the Zafira Tourer van ends in exchange for guaranteeing German jobs through 2016.
To protest the plan, some 2,000 workers walked out of an assembly on Saturday at the factory where Opel Chief Executive Karl-Friedrich Stracke was due to address them.
Opel's management briefed Einenkel ahead of the assembly on Saturday, according to the report. ($1 = 0.7921 euros) (Reporting by Maria Sheahan; Editing by Alison Birrane)