Reuters exclusively reports PSA, Dongfeng to drop two China auto plants, halve workforce

Reuters exclusively reported that Peugeot maker PSA Group and partner Dongfeng Group have agreed to cut thousands of jobs in China and drop two of their four shared assembly plants, in a last-ditch bid to curb mounting losses as the world’s largest auto market loses steam. Dongfeng Peugeot Citroen Automobiles, the carmakers’ joint venture, will halve its workforce to 4,000 as it closes one plant and sells another under plans agreed last month.