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Peugeot Citroen to cut 4,000 French jobs

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Peugeot Citroen to cut 4,000 French jobs
10:49 CET+01:00

French auto giant PSA Peugeot Citroen will cut at least 4,000 jobs in France next year as part of a wide-ranging cost-cutting plan, union sources said on Tuesday.

According to the CGT and CFDT unions, about 1,000 jobs will be cut in production, 500 in research and development, 400 in other departments and between 2,200 and 2,500 jobs will be cut in external partners.

About 1,600 of the cuts in external partners will be made in research and development, the union sources said.

The company announced last month it planned to slash thousands of jobs in Europe as part of an €800-million cost-cutting plan amid a stagnating European car market.

Vehicle manufacturing is one of the motors of the French economy, and the sector is thought to account -- directly or indirectly -- for a quarter of the national workforce.

But Peugeot and France's other national champion Renault have recently received cheap state loans to keep them afloat, and the sector is kept running in part thanks to a car scrapping consumer subsidy.

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