PARIS – PSA Peugeot Citroen now expects its automobile business to be in red ink by the end of the year, after a 1.6% decline in revenues in the third quarter. Europe sales will be stable this year, says CEO Philippe Varin, and for 2012, “We don’t see how the market in Europe will grow.” Varin says PSA’s fixed costs will be trimmed by E400,000 ($560,000), or 8%, next year, including a 10% headcount reduction of 6,000 jobs. Another E400,000 will be saved in purchasing as contracts with ...

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