Today 09/30/2016 - 05:35:16 PM
Peugeot SA 13.595€
CAC 40 4,448.26 PTS
At this morning's meeting of the European Works Council, management presented the Group's 2011 financial results and discussed the alliance with General Motors announced last 29 February.
As part of the €1 billion cost-reduction plan designed to help restore the Automotive Division's financial situation, management indicated that certain development projects have been postponed, in line with the need to prioritise capital expenditure commitments. In particular:
The recent periods of short-time work in Group plants were necessary to bring inventory under control, at a time when the European market has fallen by 9% since the beginning of the year.
Management also announced the launch of five working groups as part of the alliance with GM:
Management indicated that it was important to maintain balance in all of the projects that could come out of these working groups, so that they are a source of progress for both partners.
Employee representatives will be informed and consulted when the working groups have issued their conclusions.
The Research and Development teams concerned may have to change assignments, but the total number of R&D staff will remain unchanged
Concerning the consequences of FIAT's withdrawal from the Sevelnord plant in around 2017, management indicated that the following points would have to be addressed: