Job Market Monitor
PSA
PSA Peugeot-Citroen in France / To cut another 1500 jobs
According to a union leader, PSA Peugeot-Citroen is considering cutting an additional 1,500 jobs in France in the face of continued production overcapacity. The cuts would come on top of the 11,200 French positions to be eliminated by PSA by 2015 under its current restructuring plan, according to the union official. “Our sources internally are … Continue reading
PSA-Peugeot-Citroen Offshoring / A 3rd China plant
PSA/Peugeot-Citroen opens a third assembly plant in China today, expanding in the world’s largest vehicle market even as a slump in European demand prompts it to cut jobs at home Continue reading
Peugeot gets government rescue
PSA Peugeot Citroen (PEUP.PA) unveiled a government-backed refinancing deal for its lending arm as the struggling French automaker’s financial position deteriorated further, sending its stock to historic lows. Europe’s second-biggest automaker said it was close to an agreement with creditor banks on 11.5 billion euros ($14.9 billion) of refinancing and had won state guarantees on … Continue reading
Peugeot Citroen – 8,000 jobs cut
French carmaker Peugeot Citroen has set out plans to cut 8,000 jobs and close an assembly plant outside Paris as losses mount. Peugeot said the Aulnay plant near Paris, which employs 3,000 workers, would stop production in 2014. Last week, Peugeot said its first-half sales had fallen 13% amid a “profound crisis” in its eurozone … Continue reading
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