Carmakers Peugeot to slash 8,000 jobs following huge losses

London, July 13(ANI): French car company Peugeot would be cutting around 8,000 jobs by closing down the plant in Aulnay, after suffering huge losses.

The Aulnay plant, which is near to Paris and has three thousand employees working there, would stop making cars in 2014 as Peugeot streamlines under-used production capacity.

"A company can't preserve jobs when it is burning 158 million pounds a month in cash," The Daily Mirror quoted Chief executive Philippe Varin , as saying.

Peugeot stopped making cars at its UK plant in Coventry in 2006, which resulted in the loss of 2,000 jobs. (ANI)