The row between the French government and PSA Peugeot Citroen took another turn on Friday after the car maker’s chairman said criticism of its massive job cuts was creating a “dangerous” situation.
“We are ready to accept criticism, but there are limits,” Thierry Peugeot said in an interview with Le Figaro, after the company came under sustained fire from France’s new Socialist government over its plans to cut 8,000 French jobs.
“The attacks the company is currently facing have an immediate effect on [investor] perception. This is a dangerous situation,” Mr Peugeot said.
Asked if he feared a hostile takeover bid for the company after its shares fell 18pc following the job cuts announcement, Peugeot said: “Anything is possible. So we must act.”
Struggling with falling European sales, PSA, the biggest French car maker and second in Europe to Germany’s Volkswagen, announced last week it would cut 8,000 jobs and cease production at its historic Aulnay plant north of Paris.
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