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Merkel Warns PSA on Possible Job Cuts in Germany
The German government expects PSA Group to honor its pledge to guarantee employment levels at Opel/Vauxhall, Chancellor Angela Merkel tells reporters.
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The German government expects PSA Group to honor its pledge to guarantee employment levels at Opel/Vauxhall, Chancellor Angela Merkel tells reporters.
The carmaker made the assurance to the IG Metall union and German government a year ago to help secure support for its bid to buy Opel from General Motors Co. The $2.5 billion purchase was finalized in August.
PSA CEO Carlos Tavares has repeatedly complained that Opel’s manufacturing operations are significantly less efficient than PSA’s factories in France. He also has warned that new vehicle programs won’t be assigned to such facilities unless they can become more competitive.
Merkel’s comments today were prompted by what Der Spiegel reports as a PSA threat to cut roughly 800 jobs at Opel’s factory in Eisenach unless workers there agree to concessions.
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