Psa plans ``massive'' production cuts
PSA Peugeot Citroen cut its full-year operating margin target on Friday and said it planned to make ''massive'' production cuts in the fourth quarter after posting a 5.2 per cent fall in third quarter sales.
PARIS - French automaker PSA Peugeot Citroen said Thursday it plans to cut at least 2,700 jobs in response to the worsening economic crisis that has seen European car sales plummet.