Philippe Varin

… a 576 million-euro operating loss for 2012 as a recession caused industrywide sales in the region to slump. CEO Philippe Varin vowed on Feb. 13 to put PSA on a break-even level by end of 2014 through spending reductions and a new strategy …

… problem for the French automaker for a long time. Presenting the automaker's 2012 financial results last month, CEO Philippe Varin admitted: "Our brands are too close." In the future, Peugeot and Citroen will target two different customer groups …

… 3 percent to 5 percent estimated by industry CEOs such as Renault's Carlos Ghosn and PSA/Peugeot-Citroen's Philippe Varin . Varin said on Tuesday that the decline will be closer to the 5 percent end of the range. European sales reported …

… from Citroen models and average volume will double through the automaker's alliance with General Motors Co., CEO Philippe Varin said Wednesday at a Paris press conference. "The Peugeot brand will move toward a more modern image," led by the …

… resort," Liberation reported today, without citing any sources. The paper also said the government wants PSA CEO Philippe Varin to be replaced by former EADS chief Louis Gallois. "Let's be clear: this company cannot, must not disappear …

PARIS (Reuters) -- PSA/Peugeot-Citroen plans to negotiate an accord with unions in the next few months to permit more flexible work conditions at its French factories as part of the effort to turn around the money-losing carmaker. "We will be working on a flexibility accord in the coming months that will be a key element of improving the competitiveness of the group," Denis Martin, PSA's industrial director, said on Thursday at a press briefing to discuss the group's ongoing layoff plan. Such flexibility plans are intended to give carmakers more leeway to shift workers between plants and modify their work hours to cope with fluctuations in demand for cars. Rival French carmaker Renault has also been negotiating such a deal with its unions to bring its French factories' efficiency in line with its Spanish facilities. The effort comes after PSA posted a 16.5 percent drop in car sales in 2012, making it the worst performer in a European auto sector that is struggling with weak demand after several years of economic downturn and debt crises. Paris-based PSA is shedding assets, cutting 10,000 jobs and closing production capacity to stem mounting losses. CEO Philippe Varin has warned that the automaker will not return to profit before 2015. PSA's attempt to improve the efficiency of its French factories is separate from the layoff plan it is undertaking, which will lead to 8,000 job cuts in France. Martin said on Thursday that PSA expects to reach an agreement with its unions to finalize the restructuring by mid-February. PSA has already started trying to improve its French factories' efficiency, which is key to its future given that it employs far more people in France than Renault. At its Sevelnord factory in northern France near Lille, Martin said unions in July had accepted a salary freeze and more flexible working hours in exchange for being accorded the manufacturing of a new model of car. For his part, Martin dismissed the comparison between the flexibility accord that PSA would seek with the plans of rival Renault. "I do not compare myself at all with Renault. We have very large factories in France, with 76,000 workers in our automobile business out of the 91,000 for the group. We are not at all on the same scale as Renault." Renault has 54,000 employees in France.

… Debasis Ray told Reuters. Citing unnamed company sources, Germany's Manager Magazin reported Wednesday that PSA CEO Philippe Varin is looking for an alternative should his company's planned alliance with General Motors and its European unit …