Struggling carmaker Peugeot-Citroen slashing 8,000 jobs in France, closing iconic plant - InfoNews

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Struggling carmaker Peugeot-Citroen slashing 8,000 jobs in France, closing iconic plant

The entrance of the PSA Peugeot Citroen La Janais factory near Rennes, western France, Thursday, July 12, 2012. Struggling French carmaker PSA Peugeot-Citroen is slashing 8,000 jobs in France and closing an iconic site north of Paris. Unions vowed to try to fight back, and plan protests later Thursday. (AP Photo/David Vincent)
July 12, 2012 - 4:19 AM

PARIS - Struggling French carmaker PSA Peugeot-Citroen is slashing 8,000 jobs in France and closing an iconic site north of Paris.

Union members said company management announced the job cuts and closure plan during a meeting with the works council. The restructuring plan includes the closure of its Aulnay-sous-Bois factory.

Unions vowed to try to fight back, and plan protests later Thursday.

The company is trying to save €1 billion ($1.2 billion) this year as it struggles to compete in Europe's fiercely competitive car market. It is suffering particularly amid a slump in sales in the recession-hit south of Europe. Its sales plunged 20 per cent in Europe in the first quarter.

It is hoping a new alliance with General Motors Corp. will allow it to return to long-term profitability.

News from © The Associated Press, 2012
The Associated Press

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