Hollande vows to take action to stop Peugeot huge job cuts July 14, 2012 - 20:28 AMT PanARMENIAN.Net - French President Francois Hollande vowed Saturday, July 14 to take action to stop huge job cuts at carmaker Peugeot and to revive France's stagnant economy as he gave his first major interview since his May election. According to AFP, in the televised interview after taking the salute at France's annual Bastille Day military parade, Hollande said the state would not stand idly by after PSA Peugeot Citroen announced plans this week to cut 8,000 jobs. "This plan is not acceptable, it must be renegotiated," Hollande said in the interview with the TF1 and France 2 channels, adding: "The state will not leave this be." Hollande said the government would launch consultations to find ways "to reduce the number of jobs being cut" and to ensure that no employees were let go without compensation. Struggling with falling European sales, Peugeot shocked France on Thursday by announcing the job cuts, sparking union anger and underlining the country's difficulty competing in the international labor market. Partner news  Top stories The deal is estimated at $700mln-$1bln, Vedomosti newspaper reported citing sources in the Russian defense industry. Ahmadinejad will be replaced by Hassan Rowhani as president on August 3 following presidential elections last week. Petr Necas' decision will end his three-party coalition government, which was created after the 2010 parliamentary election. "Are these the people you want to support? Are they the ones you want to supply with weapons?” the Russian President said.   Partner news |  Latest news Ryan Gosling crime drama “Only God Forgives” wins Sydney Film Prize  The violent film, which also stars Kristin Scott Thomas, has divided critics since its debut at the Cannes Film Festival last month.David Thewlis joins Edgar Allen Poe story-based “Eliza Graves” The thriller follows a young doctor who comes to apprentice at a mental institution and meets a beautiful patient that he falls in love with.Lionsgate nabs screen rights to “Devil In The Grove” Pulitzer winner Adam Cooper & Bill Collage, whose Moses script Exodus will be the next film that Ridley Scott will direct, will write the script.IMF calls for “ambitious” economic policy reforms in Russia The International Monetary Fund has cut its forecast for Russia’s GDP growth in 2014 to 3.25 percent from 3.8 percent. |
