(MENAFN) French automaker PSA Peugeot Citroen unveiled plans to shed 8,000 jobs and the closure of an assembly plant, in a move to end a series of losses at its core automotive business, Reuters reported.
The company said it is shutting down its Aulnay plant near Paris, which employs more than 3,000 workers, in 2014 as part of a drive to reorganize Peugeot's under-used domestic production capacity.
The company added that it will cut 1,400 jobs at its second factory in Rennes, western France, as it shrinks production on lower demand for larger cars such as the Peugeot 508 and Citroen C5. Some 3,600 non-assembly jobs will also be slashed across the company.
The struggling firm expected to post a net loss in the first half, including USD857.5 million operating loss from the core car-making division.
Peugeot also disclosed plans to convert the Aulnay plant for other activities and seek new positions within the group for around half its workforce.
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