Oct. 25 - Peugeot workers demonstrate outside the company's headquarters in Paris against plans to close down a major plant, cutting 8,000 jobs. Simon Hanna reports.
French Peugeot workers descend on the company's headquarters in Paris to demonstrate against plans to close a major plant, at the expense of 8,000 jobs. The ailing PSA Peugeot Citroen car group is shutting down the Aulnay plant - just north of the capital - as part of a restructuring plan. The company's Chief Executive Office said the closure is going ahead. (SOUNDBITE) (French) PSA CHIEF EXECUTIVE PHILIPPE VARIN: "The closure will take place. A total of 8,000 jobs are concerned. But as we have said since the start: we attach a great importance to the reduction of the social impact." The car group is facing troubles on the financial markets, with at least four leading brokers cutting their forecasts for the company's share price. Competitor Ford is paring down it European operations to stem losses - at least four thousand jobs are going.