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Nov 23, 2011

CUTING JOBS * Europe

* France - PSA To Start Le Grande Firing

Paris,France -The Truth About Cars, by Bertel Schmitt -November 15, 2011: -- PSA Peugeot Citroen is planning an Opel-sized thinning of its French workforce, Reuters says, citing comments of Jean-Pierre Mercier, union representative at Peugeot’s factory in the Paris suburb of Seine-Saint Denis. The union claims that PSA wants cut 5,000 jobs. And guess who’s to blame?...  Left Party presidential candidate Jean-Luc Melenchon says credit ratings agencies are behind the decision. Moody’s had recently lowered Peugeot’s credit rating to negative...  “The result: even though the company’s profits rose 18 percent in the first half of 2011, the owner throws thousands of workers into the streets to ‘reassure the markets’,” said Melenchon...


* Spain - Ford proposes Spain layoffs for 4,000 workers

(Images, by Scott Olson/Getty Images)
Madrid,Spain -AP/KPVI News 6 (USA) -23 Nov 2011: -- Automaker Ford says it has proposed temporary layoffs for 4,000 of its 6,200 workers at its Spanish assembly plant in Valencia because of sluggish European demand for new cars...  Ford Motor Co.'s Spanish division says it wants the workers to stay home for 39 days between January and October of next year... The company says demand for cars in Spain and Europe is expected to remain weak in 2012 and that the Valencia plant needs the investment to produce new models. Ford in June announced an investment of €812 million ($1.1 billion) for the plant that it said would create dozens of new jobs...

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