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July 26th, 2012 
FAKE NEWS for the Zionist agenda It is believed that one of the main reasons behind the loss is Peugeot’s withdrawing from the Iranian market.
Until February, Iran had been Peugeot’s largest market after France.
However, when banking sanctions increased and an alliance with Detroit’s General Motors was announced, Peugeot decided to cut ties with Iran.
The French government stopped neither Peugeot nor France’s sanctions on Iran, and announced a plan to help the auto industry.
Peugeot, Europe’s second-biggest automaker, announced that it would slash 8,000 domestic jobs. The company is also set to shut down a plant outside Paris; the first such industrial closure for France in more than 20 years.
Union representative of the closed Peugeot plant Jean-Pierre Mercier criticized the company for lay-offs.
“Peugeot’s decision to stop working with Iran is costing us today, but it’s not right that our workers paying the price for decisions made by the management,” he said.
Peugeot says their woes will last until 2015, as the company is planning more wage and job cuts as they look for 1.5 billion euros in savings.
AGB/AS
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