MADRID – The negative effects of weak European auto sales continue to hammer Spain’s auto industry. The latest blow comes from PSA Peugeot Citroen, which plans to idle its Madrid plant for 47 work days, Oct. 6-Dec. 31, affecting 2,700 employees. Nearly 400 temporary workers will lose their jobs altogether. PSA-Spain sources say the measures come as a result of the contraction of the European new-vehicle market, where 2011 forecasts call for a 5% decline in sales in France, 7% dip in ...
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