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Peugeot to widen voluntary lay-off scheme -source
May 30, 2012 / 10:48 AM / 5 years ago

Peugeot to widen voluntary lay-off scheme -source

PARIS, May 30 (Reuters) - PSA Peugeot Citroen is extending voluntary departure offers or retraining to a larger group of French workers as it pursues 6,000 European job cuts this year, a source briefed on the plan said on Wednesday.

Europe’s second-biggest automaker is rolling out its buyout programme to more employee categories, said the source, who asked not to be identified because the plan had not been announced.

The programme, initially reserved for roles deemed overstaffed, will be extended to other categories where staffing levels are sufficient, the source said.

A Peugeot spokesman said the company had not increased its goal of 1,900 volunteers for the French buyout or retraining programme, which also seeks to transfer some workers internally. He declined to make any further comment.

Managers have been briefing unions on the progress of cuts at a two-day works council meeting.

Peugeot, heavily exposed to southern European markets at the sharp end of the region’s debt crisis, is selling assets, slashing costs and freezing some investments after its manufacturing division swung to a loss last year.

The overall target of 6,000 European job cuts, announced by Chief Executive Philippe Varin last September, includes 2,500 positions at external suppliers and service providers and 3,500 within the company - to be achieved through non-replacement of workers who resign or retire as well as voluntary departures. (Reporting by Laurence Frost; Editing by James Regan)

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