By on August 21, 2012

Bailing out a European carmaker in need is sure to attract the attention and ire of a few EU Commissars. Once people are in the street, money can legally flow.

The EU will donate €12 million ($15 million) to the cause of needy workers who lost their job at PSA Peugeot Citroen, says Automobilwoche [sub]. They money can be used for training or to start a new business.
Between 2009 and 2010, 2,089 people lost their job at PSA. The financial help must be approved by the EU Parliament and the European Council of Ministers.

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2 Comments on “EU Money For Fired PSA Workers...”

  • avatar

    $15 M divided by 2089 comes to a little over $7.18 K each – assuming that is the pie. It is restricted to starting a new business or re-training.

    Better than the kick in the teeth from PSA.

    (i) pending approval from the EU Parliament & Council of Ministers [2 bodies] – how long could that take?

    (ii) $15 M to be amongst how many PSA employees?

    The site worker above looks straight form Tati’s “Trafic,” 1971.

  • avatar

    I doubt the money is to be split evenly.

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