France's Auto Industry Flees France
Peugeot’s CEO Phillipe Varin highlighted this issue, telling the FTThe crux of the argument, explored in the FT article, is that French industry has profited from globalization while the worker has seen their jobs disappear. Peugeot isn’t alone in exporting jobs to low cost countries. Renault came under fire at home for setting up a Dacia plant in Morocoo, where workers are paid roughly 1/7th that of a French employee. TTAC’s initial estimation, that profitable, affordable vehicles couldn’t be made in factories that pay 1,800 euro a month and provide 5 weeks vacation, seems to be the kind of sentiment shared by many observers at Peugeot and outside the auto industry.