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After government lifeline, Peugeot finds 600 jobs

BY: AP Staff Writer OCTOBER 25, 2012 | MODIFIED: OCTOBER 25, 2012 AT 11:16 AM
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Photo - CORRECTS TO THURSDAY Workers of Peugeot Citroen gathering outside the company headquarters to protest against job cuts in Paris, Thursday, Oct. 25, 2012. France is offering a Euro 7 billion ($9.1 billion ) lifeline to PSA Peugeot Citroen, the carmaker confirmed Wednesday alongside another drop in sales. Traffic safety jacket reads: "no to the closure of Citroen Aulnay plant". (AP Photo/Michel Euler)
CORRECTS TO THURSDAY Workers of Peugeot Citroen gathering outside the company headquarters to protest against job cuts in Paris, Thursday, Oct. 25, 2012. France is offering a Euro 7 billion ($9.1 billion ) lifeline to PSA Peugeot Citroen, the carmaker confirmed Wednesday alongside another drop in sales. Traffic safety jacket reads: "no to the closure of Citroen Aulnay plant". (AP Photo/Michel Euler)
Topics: Business

PARIS (AP) — Hours before a high-stakes meeting with the government, Peugeot Citroen says it has found a company able to take over the site of the auto plant it wants to close and hire 600 of the workers whose jobs were on the block.

The announcement comes a day after France offered Peugeot a €7 billion ($9.1 billion) lifeline in loan guarantees but demanded influence in decision-making.

Philippe Varin, the Peugeot Citroen chief executive, told the television network RTL earlier Thursday that the Aulnay factory needed to close. The company, which plans to cut 8,000 jobs in France overall, has seen sales plummet.

Varin insisted the government would not make decisions for Peugeot.

According to the Peugeot announcement, ID Logistics planned to use the site and hire 600 of its workers.

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