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.
The car manufacturer PSA Peugeot-Citroën has signed a collective agreement with 5 of its 6 representative unions (with one union, the CGT, refusing to sign) to increase the competitiveness of the group in France. The agreement aims to increase working time flexibility, to end the pay freeze and to increase the level of recruitment with the aim to recruit 1,000 employees over the next three years. As recorded in the ERM database, the group has also decided to recruit 150 employees in 2016 for its car dealership in France. The agreement includes commitments from the management to produce one million vehicles in France, to maintain 85% of it R&D services and to assign the production of one new car to each of its plants in France. However, the company expects 2,500 older workers to leave within the framework of a former senior departure plan. This means that the total workforce will decrease despite the 1,000 strong recruitment drive. The group has cut about 7,200 positions since 2013 and, according to the newsletter Les Echos, this trend is expected to be maintained.
Eurofound (2016), PSA Peugeot-Citroën, Internal restructuring in France, factsheet number 88218, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/88218.