Peugeot in France – To cut 3,450 jobs in 2015

PSA Peugeot Citroen (PEUP.PA) is preparing to cut another 3,450 French jobs next year as the troubled carmaker pursues a recovery plan under new Chief Executive Carlos Tavares, two sources with knowledge of the matter said.

The cuts, to be achieved through a combination of early retirements, voluntary buyouts and internal transfers, will be presented to unions on Monday, both sources told Reuters.

Some 1,500 of the affected workers will receive early retirement, with a further 550 offered buyouts and 1,400 transferred to new positions, according to the sources.

Chosen excerpts by Job Market Monitor. Read the whole story at Peugeot plans to cut 3,450 French jobs in 2015: sources | Reuters.