Union reaches deal with Magna on the future of Vauxhall's 5,000 jobs in UK

JOB fears at the UK&rsquo;s Vauxhall plants were eased yesterday, after Unite union said it had made a deal with the car brand&rsquo;s new owner, Magna.<br /><br />The union said 600 jobs would go in the UK &ndash; far fewer than the 1,200 initially anticipated &ndash; and all through voluntary redundancies.<br /><br />Vauxhall, which trades as Opel throughout Europe and has just been sold by US giant General Motors (GM) to Magna, employs 5,000 people in the UK. <br /><br />Magna refused to confirm the details given by the union, but put out a short statement welcoming the deal<br /><br />&ldquo;We are delighted to have reached an agreement with Unite on the Vauxhall plants,&rdquo; it said. &ldquo;The Vauxhall brand is integral to our business plan and Magna has always stated that it is committed to the UK plants,&rdquo; the group added.<br /><br />But business secretary Lord Mandelson said the financing of the deal still had &ldquo;some way to go&rdquo;, but was a &ldquo;much better deal than had been offered in the first place&rdquo;.<br /><br />Lord Mandelson also said the government was seeking assurances on the security of the hundreds of millions it was putting into the deal in the way of guarantees.<br /><br />The deal &ldquo;gives both plants job security and a future through to 2013, providing a good basis for a long-term future beyond that&rdquo;, Unite said.