Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
On 15 November 2011, French car manufacturer PSA Peugeot-Citroën announced to its Central Works Councils that 1900 job will be cut in France. This is part of a European restructuring plan (see here) announced on the 26th of October 2011 on which the company (80,000 employees in car manufacturing, 98,846 in total in France) has now given more details.
PSA announced that it would make 4,300 job cuts in Europe in 2012, as part of a recovery plan to save 800 million euro in 2012. In France, PSA will make 1900 permanent employees redundant (500 in R&D services, 1000 in production and 400 in other division). More job cuts will occur through the termination of contracts with external providers and temporary workers. The greatest cuts in France are expected in R&D, with 2,100 job losses in total of which 500 jobs are located within the group and 1,600 at subcontractors.
The company has announced to try to avoid forced redundancies. There will be a voluntary departure plan with departure into retirement, a fostering of internal mobility and a decrease in the employment of temporary workers to increase employment opportunities for its internal workforce.
As reported, France has applied for assistance from the European Globalisation Adjustment Fund (EGF).
Eurofound (2011), PSA Peugeot Citroën, Internal restructuring in France, factsheet number 72641, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/72641.