Peugeot Delays Job-Cut Implementation to Await Court Ruling
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PSA Peugeot Citroen, the French carmaker that consumed about 200 million euros ($262 million) a month in cash last year, will postpone job cuts by at least 10 days as it awaits a court ruling on the strategy.
A judge overseeing a lawsuit by the CGT union aimed at canceling the workforce reduction asked Peugeot to postpone a meeting with labor leaders until after the court reaches a decision on April 26, Fiodor Rilov, the union’s lawyer, said by phone. The meeting to set financial terms for the reductions has been delayed to April 29 from April 19, Jean-Baptiste Mounier, a Peugeot spokesman, said in an e-mail.