PSA Peugeot Citroën: PCA France 2014 Pay Round
14 März 2014 - 10:07AM
Business Wire
Regulatory News:
In accordance with the New Social Contract signed on 24 October
2013, PSA Peugeot Citroën (Paris:UG) is pursuing its commitment to
payroll cost discipline in order to make its operations more
competitive and to maintain its strong base in France.
During the second meeting of the annual pay round, Management
proposed a total merit raise budget of 0.8% (including seniority
raises) at a time of limited inflation (0.6% in 2013). There are no
plans to offer an above-the-board pay rise. Nevertheless, this
budget, which is aligned with current circumstances, means that
more than half of all employees would see an increase in pay.
As part of this annual pay round, Management also explained the
procedures for an employee share issue.
For Philippe Dorge, Executive Vice President, Human Resources,
“employees are playing an active role in PSA’s recovery. The New
Social Contract is reconciling two imperatives – to return to
profit and to preserve the vital interests of our employees, the
first of which is job security. The Social Contract also concerns
employee share ownership. An employee share issue, with
preferential terms and conditions compared with the market, will
give them a personal stake in their Company’s recovery.”
Communications Department - 75 avenue de la
Grande Armée - 75116 ParisTelephone (33 1) 40 66 42 00 -
www.psa-peugeot-citroen.com
PSA Peugeot CitroënMedia contacts: +33(0)1 40 66 42
00
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