PSA Offers Buyouts to French Workers

PSA Peugeot Citroen has proposed paying a sum equal to 18 months' pay to hourly workers in France who agree to take early retirement, Bloomberg News reports.

Christian Lafaye, head of the FO union at the company, tells the news service that PSA made the offer in labor talks about new cost-cutting measures. Buyouts would further the company's plan to improve productivity by eliminating 11,200 jobs in France and shuttering its Aulnay assembly plant outside Paris.