Hollande Pledge to Block Firings Defied by Peugeot’s Reality

PSA Peugeot Citroen’s plan to close a factory in France for the first time in two decades represents the biggest challenge to Socialist President Francois Hollande’s promise to prevent a wave of job cuts.

For Hollande, who pledged during his campaign to block what he called an expected “parade of firings,” the cuts by France’s largest carmaker leave him squeezed between businesses seeking measures to spur growth and demands of his union supporters.