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Monday 30 July 2012
What does France's Peugeot crisis have to do with Iran?
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French automaker PSA Peugeot Citroen announced 8,000 job cuts and the closure of an assembly plant
Reuters/Eric Gaillard
By Sarah Elzas

French automaker Peugeot has announced it will cut 8,000 jobs. The group saw a net loss of 819 million euros that the company says is due to a drop in car sales in southern Europe, which has been hit by the economic crisis. But not everyone is convinced. Peugeot stopped sending car parts to Iran earlier this year, and some are wondering if the sanctions are in fact affecting the group.

 

 

tags : Car industry - Economic crisis - France - Iran - PSA Peugeot Citroën - Sanctions
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