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Report – PSA seeks some pay reductions from workers


According to a person familiar with the matter, Europe’s second largest car manufacturer will ask French workers to cut overtime pay and accept more flexible working conditions in order to further slash fixed costs. The source, under condition of anonymity, said the company would meet with unions later today to propose cutting additional overtime pay by 20 to 25% while also ...
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More restructuring articles

Faurecia Might Close Eight Plants by 2017, Most of Them Located in Europe
According to an anonymous source Faurecia will close eight plants in the following four years, most of them located in Europe. Most of the facilities to be closed are located in ...
Ally and ResCap Reach Deal to Complete Restructuring
Ally Financial reached a deal with Residential Capital’s major creditors which would allow the company to complete its bankruptcy restructuring. This move is expected to allow the US Treasury, which still ...
PSA Peugeot Citroen transfers half of Aulnay plant’s workforce to Poissy
PSA Peugeot Citroen convinced its employees to close the Aulnay plant earlier than scheduled, by moving half of the workforce to the Poissy plant. The French carmaker's restructuring measures have divided ...
Peugeot’s Restructuring Plan Temporarily Suspended by Paris Court
PSA’s decision to cut 8,000 jobs in France has been temporary suspended by the Paris Court of Appeal. The ruling was made public today, January 29th, and state that the court ...
GM Plans Gradual Restructuring for Opel
GM announced it will choose a gradual restructuring for Opel despite rumored pressure from the French government for a more transformative alliance with PSA. Unlike its rival Ford Motor, which chose ...
GM to sell French transmission plant to steam losses
General Motors Co., has announced that will sell a transmission plant in France to a private Belgian company as part of an effort to and losses in Europe. According to GM, ...
Fiat’s Shares Down Due to Restructuring Plan
Fiat’s shares have dropped as investors fear that the automaker will have to raise fresh cash to be able to buy Chrysler Group. According to Philippe Houchois, a London-based UBS analyst, ...
Opel won’t make similar cuts in Europe as Ford, union boss says
General Motors' European unit Opel will not see more severe downsizing than Ford's restructuring measures in Europe, Opel top labour leader said. Ford decided to close three factories and cut 5,700 ...
EU Industry Commissioner vows to help Europe’s car sector
EU Industry Commissioner Antonio Tajani today promised to take action to help Europe's suffering carmakers. Tajani said he will address the automotive sector's problems and restructuring in “an urgent and co-ordinated ...

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