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PSA Wins Second Deal with French Unions
PSA Peugeot Citroen has reached an agreement with five of its six unions in France, which will allow the company to shed 11,200 employees 17% of its workforce in the country through buyouts.
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PSA Peugeot Citroen has reached an agreement with five of its six unions in France, which will allow the company to shed 11,200 employees 17% of its workforce in the country through buyouts.
The unions represent three-quarters of PSA's workforce. The company's works councils will conduct a vote on the restructuring pact soon.
Last month, most of PSA's unions ratified an accord that clears the way for the company to close its assembly plant in Aulnay, France, in 2014. The militant CGT union refused to sign either agreement.
About 200 workers burned tires outside PSA's Paris headquarters on Monday and clashed with police.
The company still faces a lawsuit filed by CGT that persuaded a Paris court to order PSA to postpone its French job-cutting plan this year.
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