French carmaker PSA sets up fund for staff and new health check measures

FILE PHOTO: The logo of PSA Group is seen during the annual results news conference in Rueil-Malmaison, near Paris, France, February 26, 2020. REUTERS/Benoit Tessier/File Photo

PARIS (Reuters) - French carmaker and Peugeot owner PSA PEUP.PA announced on Wednesday the creation of a solidarity fund to help staff affected by the closures of plants due to the COVID-19 outbreak, and new steps to protect the health of its workers.

PSA said it was creating the fund, ensuring the full compensation to all employees working in France during this period of partial activity due to the coronavirus.

It will be funded through the deduction of two days of holidays from managers, one day from workers and by a contribution from the company, added PSA.

This week, PSA secured a further 3 billion euros ($3.3 billion) in loans.

Reporting by Sudip Kar-Gupta; editing by Jason Neely