Vladimír Urbánek (Kurzy.cz)
Macroeconomics  |  February 06, 2013 11:41:58

Layoffs in the European automotive industry is inevitable

When reports first emerged that French carmaker Peugeot Citroen plans layoffs and closing some factories stepped French Industry Minister Arnaud Montebourg, stating that such plans are unacceptable. After several months of continued European market sinks Montebourg dramatically turned and conceded that such plans are inevitable. According to his statement failed to find any other solution.

French concern PSA is considering the release of about 11,200 or 17% of employees during the next 2 years. Renault announced in mid-January a plan to reduce the state 7,500 jobs.
French automakers are among the hardest hit in the entire European automotive industry.

Related news: The European automotive industry would need treatment ala USA.
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