Peugeot to slash 8,000 jobs in Europe
PARIS - Agence France-Presse
A picture taken on April 13, 2012 in Sausheim, shows employees working on citroen c4 and DS4 production lines of the French car maker PSA Peugeot Citroen. AFP photo
French auto group PSA Peugeot Citroen said today it would cut 8,000 jobs in its domestic operations as a sharp downturn in the European market led to a loss in the first quarter.
PSA, France's biggest carmaker and second in Europe to Germany's Volkswagen, said it expected the European market to shrink 8.0 percent this year and had to adjust its business in the face of a worsening outlook.