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Union: PSA May Cut More Jobs in France
PSA Peugeot Citroen, which last year announced it will eliminate 11,200 jobs in Europe by 2015, is pondering a plan to trim another 1,500 positions in France, according to an official of the CGT union.
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PSA Peugeot Citroen, which last year announced it will eliminate 11,200 jobs in Europe by 2015, is pondering a plan to trim another 1,500 positions in France, according to an official of the CGT union.
PSA may cut the jobs through "voluntary redundancies," Jean-Pierre Mercier tells Bloomberg News. The company declines to comment.
PSA hasn't generated positive cash flow since 2010. Analysts have said the company must soon stop spending more than it collects to avoid collapse.
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