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PSA to Swap 1,300 Jobs in France
PSA Group is shedding some 1,300 employees in France under a new form of voluntary reductions enabled by the French government.
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PSA Group is shedding some 1,300 employees in France under a new form of voluntary reductions enabled by the French government.
The scheme allows PSA to remove employees through retraining leave, business creation or career transition programs. About 80% of the affected employees are in salaried positions.
But the company also has agreed to hire 1,300 new workers—at least half of them former part-time interns or work-study employees—under permanent contracts. The process appears to enable PSA to lower its costs by replacing workers with new hires at lower pay rates, while maintaining the same overall headcount.
The replacement plan was made possible by an agreement in 2016 between PSA and five trade unions that represent 80% of its employees.
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