PARIS -- PSA Group has completed its money-saving move from the heart of Paris to the city's suburbs.
PSA's corporate leadership, including CEO Carlos Tavares, are now based in offices in Rueil-Malmaison, about 15 km (9 miles) west of central Paris.
The French automaker had been based in premises on Paris's Avenue Grand Armee near the Arc de Triomphe since 1964.
The move was announced in January 2015, three years after PSA, then struggling with a loss during the financial crisis, sold the Avenue Grand Armee building for 246 million euros. The automaker had been leasing the site since then.
It was reported in 2015 that PSA would save 10 million euros annually in real estate costs from the moves, a figure that the company has not confirmed.
The new Rueil-Malmaison headquarters will house about 700 employees and serve as the management center for the group, which as of this year includes Opel and Vauxhall in addition to Peugeot, Citroen and DS. Other departments based there include communications, human resources, general counsel and finance.
About 2,000 employees are affected by the move, 1,200 at the Avenue Grande Armee offices and 570 at Citroen headquarters in Saint-Ouen, just north of Paris, which is also being vacated.