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French finance minister says Peugeot must cut fewer jobs

PARIS--Finance Minister Pierre Moscovici says a plan from French carmaker PSA Peugeot-Citroen to eliminate thousands of jobs goes too far and the number of job cuts must be reduced.

The struggling auto company announced plans last week to eliminate 8,000 jobs and close a major factory. President Francois Hollande has already said the current plan is unacceptable and must be renegotiated.

Moscovici refused to get into the details of what the government would be asking for, but said Sunday that the state has “levers” it can deploy in negotiations. He said the government's goal would be to reduce the number of jobs eliminated.

He spoke during an interview with Europe-1 radio, iTele television and Le Parisien newspaper.

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