DETROIT (AP) — General Motors is making progress in restructuring its money-losing European operations and holding constructive talks with German labor unions, CEO Dan Akerson told shareholders on Tuesday.

GM’s European unit has been losing money for the past 12 years, and like other automakers, faces grim prospects as much of the region slips toward a recession. The company has been trying to restructure the Opel and Vauxhall brands, which have too many factories and workers for the number of vehicles they sell.