PARIS, France - Struggling French automaker PSA Peugeot-Citroen has announced a drastic cost-cutting plan to slash 8000 jobs in France and close a factory north of Paris to counter poor sales in crisis-hit Europe.The automotive group, facing a R7.1-billion loss in 2012, is trying to save R10-billion as it struggles to compete in Europe's fiercely competitive vehicle market. The group is suffering amid a slump in sales in the recession-hit south of Europe - down 20% during the first quarter of 2012.AU REVOIR FRENCH BASTIONThe restructuring plan includes the closure of Peugeot-Citroen's Aulnay-sous-Bois factory, one of the biggest vehicle plants in France and seen as a bastion of vehicle production.The company will also cut 1400 jobs at its Rennes factory and 3600 in other French sites.CEO Philippe Varin said that the company was losing about R1-billion a month though he pledged: "Nobody will be left along the side of the road."The company is hoping a new alliance with General Motors will allow it to return to profitability.CGT union member Jean-Pierre Mercier said: "It's no longer possible to continue to lose jobs like this. We have to come together to make the management back down."Union members are already protesting on the streets.