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PSA to cull 11 000

2009-02-11 13:20
French auto group PSA Peugeot Citroen said on Wednesday that it expected to shed 11 000 staff throughout the world in 2009 after
reporting net losses of 343 million euros (444 million dollars) in 2008.

"We are expecting more than 11 000 people to leave the group in 2009 in voluntary departures," finance director Isabel Marey-Samper told reporters.

Jean-Luc Vergne, the group's head of human resources, said the number of job cuts could be "between 10 000 and 12 000 people in
Europe."

PSA Peugeot Citroen employed 207 850 people worldwide in 2007.

The company said on Monday it would not cut any jobs in France in 2009 in return for receiving a loan of three billion euros from the French state.

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