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France admits Peugeot difficulties
- Middle East: Wednesday, September 12 - 2012 at 15:21
The French government has said PSA Peugeot Citroen cannot rely solely on cost cutting to reduce its losses, and job cuts must not hurt its research and development capabilities, Reuters has reported. The car maker has said it plans to cut 8,000 French jobs, on top of some 3,500 unveiled last year, close its Aulnay plant near Paris and shrink another in Rennes, in western France as it wrestles with a tough European auto market. "This study has shown that PSA is currently in a difficult situation, resulting both from economic and structural reasons," said a government-commissioned report.
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