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Peugeot could slash 5,000 jobs to cut costs in 2012

French auto giant PSA Peugeot Citroen on Wednesday announced an 800-million-euro cost-cutting plan for next year, including up to 5,000 lay-offs amid a stagnating European car market. “It’s quite possible there will be an impact on the workforce,” the company’s chief financial officer Frederic Saint-Geours warned during a teleconference announcing the plan. Management is…

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