PSA Peugeot Citroen is to rationalise certain European divisions to establish joint operations, with for example, Peugeot Germany in Saarbrucken moving to Citroen’s headquarters in Cologne.
“There will be no redundancies – that is not the goal at all,” a PSA spokeswoman in Paris told just-auto. “It is…to rationalise the use of space and departments. It will happen in 2012 – we have no precise dates.”
PSA’s move to centralise European operations comes as the automaker engages in a wide-scale effort to reduce costs and sell assets after reporting a sharp drop in earnings.
The French automaker posted a 48% drop in net profit in 2011 to EUR588m (US$773m), impacted by losses at its core automobile division in the second half of the year.
Further details of PSA’s European rationalisation are expected later.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData