Hollande Pledge to Block Firings Defied by Peugeot’s Reality

[dipsydoodle]

PSA Peugeot Citroen (UG)’s plan to close a factory in France for the first time in two decades represents the biggest challenge to Socialist President Francois Hollande’s promise to prevent a wave of job cuts.

For Hollande, who pledged during his campaign to block what he called an expected “parade of firings,” the cuts by France’s largest carmaker leave him squeezed between businesses seeking measures to spur growth and demands of his union supporters.

Peugeot, whose announcement yesterday brought its job cuts to 14,000, is hardly alone. Air France-KLM Group (AF) is eliminating more than 5,000 slots. Drugmaker Sanofi (SAN) may reduce staff by more than 2,000. Economists say more mass firings are likely as growth grinds to a halt.

“There’s going to be an avalanche of job cuts and the expectations of public opinion are huge,” said Jerome Fouquet, a director of pollster Ifop in Paris, who says that unemployment is the top concern among voters. “This puts the government in a very difficult position.”

http://www.bloomberg.com/news/2012-07-12/hollande-s-pledge-to-block-firings-defied-by-peugeot-s-reality.html

[smaug]

1. Require corporations to also fire their entire executive suite, and remove their board

Ban them from being corporate officers until the majority of laid off are re-employed. Guess what? Also ensure they are removed from the boards of other corporations and all compensation stopped. I mean, if vulture capitalists are able to remove earned pensions from retired workers, then why should corporatists keep theirs?

[dipsydoodle]

2. What are you on about.

What you are suggesting would help Citroen Peugeot's car sales how ?