Peugeot to Close and Sell Meudon Plant
Meudon will be the second plant Peugeot decided to close, after the Aulnay facility, also located near Paris, whose fate was established last year as part of a restructuring program. 2,200 jobs will be lost after the Aulnay shut down.
With a record net loss of €5 billion in 2012, the company wants to cut about 6,000 jobs in France in order to adapt to the lower European market demand. In addition, Peugeot already started selling property and plans to raise €200 million until the end of the year.
Story via FinancialTimes