Peugot to cut 11,000 jobs
12-02-2009
The French car manufacturer, PSA Peugeot-Citroen, says it expects to cut 11,000 jobs this year -- about 5-percent of the current workforce. An official said the posts would be lost at factories in Europe but not in France itself. Peugeot-Citroen has promised to maintain staffing levels in France in return for receiving a government loan of nearly $US4-billion. The European Commission is considering whether France's financial support to its car makers, also including Renault, contravenes EU laws.
