Economy - Voice of America: French Auto Giant Announces Thousands of Jobs Cuts

Economy - Voice of America economy-and-business

French Auto Giant Announces Thousands of Jobs Cuts Jul 12th 2012, 12:15 French auto giant PSA Peugeot Citroen issued a statement Thursday that it plans to cut 8,000 jobs jobs in its domestic division because of earning losses earlier this year and its dismal outlook on the shrinking market. Unions opposing the job cuts are reported to be planning protests later Thursday. France's largest automaker says it loss $860 million the first half of 2012, in a market that has fallen more 20 percent in the past five years. PSA Chairman of the Managing Board, ... Media files: C4C43482-6C49-4C53-9F02-57EC7A462861_cx0_cy10_cw0_w800_r1.jpg (image/jpeg, 0 MB)

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