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Peugeot-Citroen is considering shifting its headquarters away from a prestigious location near the Arc de Triomphe in Paris after 50 years as a cost-cutting push impacts executive ranks, people familiar with the matter said.

Most of the staff currently working at the site on the Avenue de le Grande Armee will leave Paris for a location in the suburb of Poissy, where Europe's second-biggest carmaker has a factory, said the people, who asked not to be identified because the talks are private.

CEO Carlos Tavares presented the plan at a meeting of PSA's supervisory board on Tuesday, and unions will discuss the proposal in January, the people said. If approved, the move would take place progressively and be completed by the end of 2016.

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