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Peugeot SA Gives Trade Unions Until October 22, 2013 to Consult Members on Competitiveness Plan; CGT Trade Union Calls for Strikes-Reuters

Friday, 11 Oct 2013 08:48am EDT 

Reuters reported that Peugeot SA has given trade unions until October 22, 2013 to consult their members on the Company's plan to make its French factories more competitive. The plan includes proposals for a quasi-freeze of salaries in 2014 and greater flexibility, notably with regard to the transfer of employees between sites. In order to be adopted the plan must have at least 30% of the votes in favor, and not be opposed by 50% or more of voters. The CGT, the Company's main trade union with 23% of the votes, has already said that it opposes the proposals and has called for strikes. 

Company Quote

0.285 +1.54%
7:38am EDT