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Union: PSA May Cut 10,000 Jobs in France
PSA Peugeot Citroen, which said last November it would shed 6,000 workers in Europe this year, now plans to eliminate as many as 10,000 jobs just in France nearly 10% of its domestic workforce, Bloomberg News reports.
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PSA Peugeot Citroen, which said last November it would shed 6,000 workers in Europe this year, now plans to eliminate as many as 10,000 jobs just in France nearly 10% of its domestic workforce, Bloomberg News reports.
The news service quotes Christian Lafaye, head of the Force Ouvriere union, who declines to say where he got the information. Lafaye says the company may announce its new jobs target on July 25 when it reports results for the first half of this year.
Reuters reported last week that CEO Philippe Varin told union leaders that PSA needs deepen its cost reduction plan beyond the previously announced goal of €1 billion because of worsening auto market conditions in Europe. The company declined to comment on the cost target but disclosed it will unveil additional cost-cutting measures at a meeting with its works council this month.
PSA's union leaders have said they fear the company plans to shutter its assembly plant in Aulnay, France.
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