Job Market Monitor
PSA Peugeot Citroën
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 … Continue reading
Europe / Carmakers warn of more layoffs
European carmakers need to close more factories and cut more jobs, executives at the Frankfurt car show said on Tuesday, warning any recovery in demand was likely to be long and slow as unemployment remained high and bank lending weak. Continue reading
Peugeot / 1,500 Jobs Added to Cuts
PSA Peugeot Citroen (UG), Europe’s second-largest carmaker, will eliminate an additional 1,500 jobs by 2014, deepening its workforce reduction as auto sales in the region plunge to a 17-year low. The cuts, which come on top of 8,000 announced in July, will be made by not replacing people who leave, Jonathan Goodman, a spokesman for … Continue reading
Peugeot gets government rescue
PSA Peugeot Citroen (PEUP.PA) unveiled a government-backed refinancing deal for its lending arm as the struggling French automaker’s financial position deteriorated further, sending its stock to historic lows. Europe’s second-biggest automaker said it was close to an agreement with creditor banks on 11.5 billion euros ($14.9 billion) of refinancing and had won state guarantees on … Continue reading
Peugeot – The battle in Aulnay-sous-Bois
In July, after workers at French carmaker PSA Peugeot Citroen learned of company plans to close a plant in the suburbs of Paris, union leader Jean-Pierre Mercier went on the attack. Within hours he was calling for a “shock campaign” to force PSA Chief Executive Philippe Varin to keep the plant open. “We have the … Continue reading
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