French car giant Peugeot Citroen sheds 8,000 jobs

2012-07-12 163

France's biggest carmaker Peugeot Citroen has stunned the country by announcing 8,000 job cuts and the closure of an assembly plant near Paris.

Unions have described the news as a "declaration of war" and an "earthquake". But bosses say the restructuring plan is the only way to safeguard the firm's future as it struggles with mounting losses.

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