In a cost-cutting effort, PSA Peugeot Citroen has announced on Wednesday that the company is likely to cut 3,500 jobs in Europe in 2012.
The announcement comes shortly after French carmaker lowered its full-year profit forecast. Despite group revenues being up 3.5% compared with third-quarter 2010.
PSA's management said it would implemented an €800 million ($1.13 billion) cost-savings plan in 2012, to be split between fixed cost reductions and lower purchasing costs.
These measures could result in the loss of an estimated 1,000 positions in manufacturing and 2,500 positions elsewhere.
The announcement comes shortly after French carmaker lowered its full-year profit forecast. Despite group revenues being up 3.5% compared with third-quarter 2010.
PSA's management said it would implemented an €800 million ($1.13 billion) cost-savings plan in 2012, to be split between fixed cost reductions and lower purchasing costs.
These measures could result in the loss of an estimated 1,000 positions in manufacturing and 2,500 positions elsewhere.
