France's once-booming motor industry -- which employs over 280,000 workers -- is going through its worst crisis for thirty years ...
France's once-booming motor industry -- which employs over 280,000 workers -- is going through its worst crisis for thirty years ... and the slump is likely to persist throughout 1975.
On Friday (22 November) Renault, France's largest car manufacturer and the third biggest in western Europe, announced short-time working for 70,000 employees over the Christmas and new Year period.
At the same time, Citroen, the second-largest car manufacturer in France, summoned works committee meetings for Monday (25 November) to announce plans for lay-offs due to the poor economic situation. Citroen has already cut its work-force by about 6,000 this year. At present is employs over 5.,000 workers.
French car sales dropped by 22.6 pere cent in October, compared with the same month last year. Provisional figures for November indicate that the motor manufactures has experienced a drop of almost 30 per cent in sales.
In view of the overall unemployment situation in France, the Government has announced plans to aid hard-pressed industries and firms. The proposals centre around the creation of a high-powered co-ordinating committee, with substantial financial backing, to speed up the redeployment of industry.