PSA Peugeot Citroën to Cut 3,500 Jobs in Europe as it Tries to Slash Costs

French carmaker PSA Peugeot Citroën is feeling the burden of the economic crisis as the company said on Wednesday that despite group revenues being up 3.5% compared with third-quarter 2010, its core automotive division's revenues are down 1.6% year-on-year and as a result, it would barely break even this year.

The Paris-based automaker blamed the drop in revenues on the negative impact from the aftermath of Japan's tsunami (€250 million) and the higher prices of raw materials (€700 million).

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POLL: Mirror, Mirror on the Wall, Which is the Most Beautiful of All?

The results of a collaborative project between two or more automotive partners can vary deeply, depending on how far the participating companies are willing to take the rebadging process.

For example, the differences between the original Fiat Doblo and GM's Opel Combo spinoff (a RAM variant will also be introduced in early 2013) are more or less limited to the design of their front bumpers.

The French PSA Peugeot Citroën group on the other hand, gave its designers a little more breathing room when it came to the development of its new compact SUVs / crossovers, the Peugeot 4008 and the Citroën C4 AIRCROSS.

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