French giant plans redundancies across Europe
26 April 2007

French car making giant PSA Peugeot-Citroen is planning to cut 4800 jobs across Europe as it fights declining sales and rising costs.

Last year the firm's profits fell by over 80 per cent. The 4800 job cuts will be made across PSA's businesses, and the company has said that it intends to offer incentives to those taking voluntary redundancies.

In January (2007) Peugeot shut its factory at Ryton in the Midlands, with the loss of around 2600 jobs.

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