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July 31, 2012

Peugeot S.A. Cutting Jobs in wake of Eurozone Crisis

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Peugeot S.A., or PSA, the manufacturer of Peugeot and Citroen vehicles, recently announced that it would be cutting over 8,000 jobs and closing down a plant near Paris in 2014. Neil King, automotive industry analyst at Euromonitor, states that the Eurozone debt crisis is mostly to blame for PSA's plans, but other car manufacturers are encroaching on PSA's territory and the group is benefitting less than most OEMs from growth markets outside Europe.

 

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