Peugeot Workers Protest in Paris Against Decision to Lay Off 8,000 Employees image

On Thursday, September 20th, PSA Peugeot-Citroen workers held a protest in Paris against the automaker’s plans to lay off 8,000 employees in France.

The demonstration began after President Francois Hollande held a meeting with the union members and promised them three-tier negotiations involving the management, state and unions. Almost 800 employees marched from the center of the city, from Saint Lazare railway station, shouting “No to Aulnay’s closure” and “A billion in its bank accounts and PSA wants to close”, expressing their anger regarding the automaker’s decision to lay off 8,000 workers and close the Aulnay plant.

According to the report recently presented to the government, Peugeot, which is Europe’s second automaker and which has recently closed a deal with GM of the US, has to quickly revamp and tie-up with a global group to be able to survive the sweeping losses in Europe. Recently Peugeot has also dropped from the Paris CAC 40 leading stock index due to poor sales.

Peugeot recently sold 75% of the Gefco truck unit for 800 million euro to OAO Russian Railways, a necessary measure to reduce debt. . In February the automaker announced it plans to sell assets, such as Gefco, to cut costs.

  • JSM

    This article is covering up the real story here This story was reported by PressTV and the reason for the lay offs are a direct result of the AIPAC-controlled financial systems war on Iran which as of this date prevents Peugeot from doing financial transactions with Iranian auto manufacturers.
    It's time EU workers rose up against this madness…the debt crisis was also carefully engineered by the zionist controlled global banking gangsters based in Washington, New York and London, punishing Spain, Portugal, Italy and Greece for not supporting the Iraq and Afghanistan wars with troops. Now Bernanke is trying to increase US debt to further their blackmail tactics against all governments to fulfill their disgusting agendas of war and genocide.