A deal has been agreed between Canadian car giant Magna and union reps to secure the future of Vauxhall's two UK manufacturing plants.
The sites at Ellesmere Port and Luton had been earmarked for lay-offs in recent weeks, but the latest agreement promises there will be no compulsary redundancies at either plant until at least 2013.
The deal will be secured by a two-year pay freeze, and an increase in production targets at Ellesmere Port to 148,000 units annually - an rise of 25%.
Tony Woodley, joint general secretary of Unite, said: "This agreement removes the uncertainty surrounding our plants and our people's jobs.
"It gives both plants job security and a future through to 2013, providing a good basis for a long-term future beyond that."
Further funding to secure the plant's long-term future has been provided by the North West Regional Development Agency (NWDA).
Chief Executive Steven Broomhead said; "This is great news for Vauxhall, the workers and the Northwest manufacturing sector.
"Not only is this great news on the jobs front, but we are delighted at the output commitment to 148,000 cars per year. An increase on 2007 figures which ensures the plant will be operating closer to full capacity.
"The training funding which the NWDA has invested in the site will continue to drive the skills of the workforce and we will continue to work with Vauxhall on future developments at Ellesmere Port."
UTA DEUTSCH, LUTON, Vauxhall around 2 years, 7 months ago