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.
Manufacturing Manufacture For Transport Equipment Manufacture Of Motor Vehicles, Trailers And Semi-Trailers 29.10 - Manufacture of motor vehicles
461 jobs Number of planned job losses
Announcement Date
17 February 2020
Employment effect (start)
Foreseen end date
Description
French automobile manufacturer PSA Group (formed by Peugeot, Citroën and Opel) announced a new labour force adjustment plan at the Figueruelas plant (Zaragoza), affecting 461 employees born before 1960.
Thus, the firm plans to adjust the workforce through early retirements but without replacements. However, unions are demanding that these early retired employees be replaced. PSA and workers representatives are now negotiating the terms of the adjustment plan. PSA offers an amount equivalent to 18 months of salary for those who leave voluntary and who are 61 years old, and offers 12 months for workers who are older than 62 years old and leave voluntarily.
Eurofound (2020), PSA, Internal restructuring in Spain, factsheet number 99811, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/99811.
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