Peugeot CEO Uses Cost Cuts to Turn Corner on Profitability

Not long after Carlos Tavares became chief executive of struggling French car maker PSA Peugeot Citroën a year ago, he ordered employees to work smarter, not harder.

“There was disarray. People were working like hell, but the methods weren’t appropriate,” said the 56-year-old former race-car test driver. Employees, from the factory floor to sales teams, lacked proper benchmarks, and much effort was wasted as the company drifted...