Tags: France | Peugeot | Jobs | Europe

France's Peugeot to Cut More Jobs as Europe Sales Plunge

Tuesday, 11 Dec 2012 03:12 PM

PSA Peugeot Citroen, Europe’s second-largest carmaker, will eliminate an additional 1,500 jobs by 2014, deepening its workforce reduction as auto sales in the region drop to a 17-year low.

The cuts, which come on top of 8,000 announced earlier this year, will be made by not replacing people who leave the company, Jonathan Goodman, a spokesman for the Paris-based company, said in a telephone interview.

Workers were told Tuesday that the number of employees that the automaker has in France will drop 17 percent to 55,900 in 2014 as a result of the cuts, Christian Lafaye, the leader of the FO union, said in an interview.

The European auto market is on track to drop this year to the lowest sales volume since 1995, according to the ACEA trade group. Peugeot is also closing a factory on the outskirts of Paris. General Motors Co. announced Monday that it will shutter a factory in Germany as a result of the region’s plunging sales, while Ford Motor Co. intends to shut three European plants.

Fiat SpA closed an Italian factory at the end of 2011 and said last week it will eliminate 1,500 jobs in Poland.

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