Sina US Stock News on the 14th. The PSA Group's German automobile manufacturer Opel (Opel) will lay off as many as 4,100 employees. Facing a slowdown in sales and technological revolution, it has joined the layoffs of car companies around the world.

The company issued a statement on Tuesday saying that the layoffs are focused on Germany's Ruesselsheim, Eisenach, and Kaiserslautern factories. Opel will reopen voluntary separation programs for employees and cut 2,100 jobs by 2025.

Furthermore, a spokesperson said that the company has also reached an agreement with labor representatives to lay off 2,000 more employees in two batches by 2029.

“This agreement brings a further significant increase in our competitiveness,” Opel CEO Michael Lohscheller said in a statement. The company will also increase its investment in the Rüsselsheim plant.

Currently, Opel employs around 30,000 people, including 16,000 in Germany.