Peugeot to cut 6,000 jobs

France’s PSA Peugeot Citroen plans to cut 6,000 jobs in a bid to slash costs after warning that pricing pressure meant its core car making business would barely make a profit this year. PSA pledged to reduce costs by €800m (£697m) next year, including the job cuts. It also expects 2011 free cash flow to be negative.