Francois Hollande protest for PS Peugeot Citroen layoffs of 8000 employees

Operating cash flow is expected to remain negative until the end of 2014. In addition to layoff 8,000 workers, Peugeot is also planning to change the function of Aulnay factory for other activities and look for another position within the group for half of its employees. This cooperation, he added, has not been realized because it is still in the process of risk assessment (risk appetite). But has been included in the PIP plan investment performance for the year 2012. It's still making its risk appetite, he said.

French President Francois Hollande said it was not received by the plan carmaker PS Peugeot Citroen layoffs of 8000 employees. The plan is unacceptable, and must be renegotiated.

State will not allow this to happen, Hollande said quoted by AFP on Saturday (14/7). French Peugeot surprise announcement of plans to mass layoffs on Thursday (12/7) then. The French carmaker says, Aulnay plant near Paris that employs more than 3,000 people will stop production in 2014 as one of the action rearrangement outpout factories around France were deemed less important.

Rennes in western France plant also will lay off 1,400 people from a total of 5600 employees as a form of business downsizing due to declining demand for large cars. Around 3,600 workers are not fabricators of all companies will also be laid off. Hollande who was elected President of the French May has promised to reverse the French economy back on track in the middle of the current debt crisis. Peugeot says it will release the company's net loss in first half operating loss of the reach and range of 700 million euros (USD 8.2 billion) for the core car-making division.