PSA to Merge Citroen, Peugeot Offices in Europe

PSA Peugeot Citroen plans to consolidate the offices of its Citroen and Peugeot brands in the European countries where both do business, Bloomberg News reports.

The company tells the news service that Swiss offices for the two units soon will be merged in Geneva, followed by a similar shift in Germany. PSA says the moves are part of its plan to seek synergies in its European operations.

The company announced n February it would deepen its restructuring plan because of worsening financial results. PSA now aims to cut €1 billion in costs and sell €1.5 billion in assets this year.