France’s Hollande Says Peugeot Job Cuts Are Not Acceptable
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PSA Peugeot Citroen’s decision to close a factory and cut an additional 8,000 jobs is unacceptable, President Francois Hollande said, pledging to lean on Europe’s second-biggest carmaker to renegotiate the plan.
Peugeot said two days ago that it will cut a total of 14,000 jobs and shut an auto plant in France for the first time in two decades to stem widening operating losses.