Hollande vows action on Peugeot job cuts, economy

French President Francois Hollande said on Saturday that carmaker PSA Peugeot Citroen's plan to cut 8,000 jobs was not acceptable and needed to be renegotiated."This plan is not acceptable, it must be renegotiated," Hollande said during a televised interview with the TF1 and France 2 channels on Bastille Day, adding: "The state will not leave this be."Peugeot shocked France on Thursday by announcing the job cuts, sparking union anger and underlining the country's competitiveness problems.

The incredibly inept policies of French president Francois Hollande are back in the news. Hollande is following up on his proposal to not let companies fire workers, starting right now with French car maker Peugeot's Plan to Cut 8,000 Jobs, Close Plant An article in El Pais has better details of Hollande's denial of reality than I have found elsewhere.

PARIS — President Francois Hollande on Saturday denounced a plan by carmaker PSA Peugeot-Citroen to cut 8,000 jobs as unacceptable and said it must be renegotiated.

PARIS (Reuters) - French automaker PSA Peugeot Citroen announced 8,000 job cuts and the closure of its Aulnay assembly plant as it struggles with mounting losses at its core automotive division. Peugeot said on Thursday the Aulnay plant near Paris, which employs more than 3,000 workers, will halt production in 2014 as part of a drive to reorganize output across the company's under-used French factories. Its Rennes plant in western France will also cut 1,400 of its 5,600 jobs as it downsizes in response to shrinking demand for larger cars, Peugeot said. ...

French president François Hollande took two more swan dives into the pool of ludicrous actions in the past few days, first with car-maker Peugeot, quickly followed up with a guaranteed-to-fail proposal regarding search engine giant Google. Government Motors French Style Bloomberg reports France Guarantees Peugeot Debt in Exchange for Influence