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Report Says PSA Targets at Least 3,700 Job Cuts in Germany
PSA Group aims to trim at least 3,700 jobs at its Opel facilities in Germany by 2020 through buyouts and early retirement offers.
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PSA Group aims to trim at least 3,700 jobs at its Opel facilities in Germany by 2020 through buyouts and early retirement offers, according to the head of Opel’s works council.
Wolfgang Schaefer-Klug tells reporters that about 2,000 Opel workers already have agreed to leave. He expresses confidence that the program will deliver the cost reduction PSA targets. But he says PSA still hasn’t articulated Opel’s new-product assignments and job guarantees beyond 2020.
Germany’s IG Metall union also objects to the PSA’s demand that all 19,000 Opel workers in the country agree to wage cuts before the French company clarifies the future product plan for its factory in Eisenach. Labor talks at the plant stalled last week.
PSA, which acquired Opel from General Motors Co. in August, aims to make the unit profitable by 2020. By then the French carmaker expects to cut Opel’s annual costs by €1.7 billion ($2.1 billion).
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