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PSA Aims to Trim 500 Jobs at Rennes Plant
PSA Peugeot Citroen hopes to reduce the workforce at its auto plant in Rennes, France, 10% by paying eligible employees not to work, Bloomberg News reports.
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PSA Peugeot Citroen hopes to reduce the workforce at its auto plant in Rennes, France, 10% by paying eligible employees not to work, Bloomberg News reports.
The scheme, which the plant's unions have accepted, offers workers who are at least 55 years old 75% of their normal wage until they turn 60. Affected employees also have the option to continue working at another PSA facility.
Bloomberg says the new offer aims to eliminate about 500 jobs at Rennes. Those positions are in addition to PSA's plan to cut 11,200 jobs in France by the end of 2014.
The Rennes factory makes Citroen C5 and Peugeot 508 large cars. Sales of both models are down roughly 30% this year, according to Bloomberg.
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