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After Government Lifeline, Peugeot Finds 600 Jobs

Thu, 10/25/2012 - 1:56pm
The Associated Press

PARIS (AP) — Hours before a high-stakes meeting with the government, Peugeot Citroen says it has found a company able to take over the site of the auto plant it wants to close and hire 600 of the workers whose jobs were on the block.

The announcement comes a day after France offered Peugeot a €7 billion ($9.1 billion) lifeline in loan guarantees but demanded influence in decision-making.

Philippe Varin, the Peugeot Citroen chief executive, told the television network RTL earlier Thursday that the Aulnay factory needed to close. The company, which plans to cut 8,000 jobs in France overall, has seen sales plummet.

Varin insisted the government would not make decisions for Peugeot.

According to the Peugeot announcement, ID Logistics planned to use the site and hire 600 of its workers.

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