Peugeot Wins Majority Backing for Cuts Plan: Unions
PSA Peugeot Citroen won the support of a majority of workers' representatives for restructuring and job cuts designed to halt mounting losses at the French carmaker, three union officials said.
Peugeot's works council voted to back the restructuring plan by 15 votes in favor to four against, with one abstention, three union officials said after the meeting.
A company spokesman had no immediate comment on the vote but said the restructuring agreement would be signed at a later meeting in coming weeks.
Under the cuts announced last July, Peugeot is scrapping some 10,000 jobs and a domestic plant north of Paris as it struggles to halt losses compounded by Europe's auto market slump.