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PSA wants 3,700 job cuts at Opel in Germany by 2020 and a process of contract buyouts and early retirement has already resulted in a reduction of about 2,000 positions, Opel's labor chief said.
PSA boss Carlos Tavares, who is no stranger to thrashing out difficult labor deals, is now taking on Germany's powerful IG Metall union, which has been the undoing of many a cost cutter.
Continental has slightly raised its full-year sales guidance and expects business to stay strong in the second quarter despite further rising material costs.
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