Renault announces large-scale redundancies
Renault has announced plans to cut fixed costs by more than €2bn (£1.78bn) in the next three years. It is understood this restructure will lead to up 15,000 job losses.
About 4,600 of those jobs will be in France, but the company has not specified where the additional redundancies will take place.
Clotilde Delbos, interim CEO of Renault, said: “In a context of uncertainty and complexity, this project is vital to guarantee a solid and sustainable performance, with customer satisfaction as a priority.
“By capitalising on our many assets such as the electric vehicle, by capitalising on the resources and technologies of Groupe Renault and the Alliance, and by reducing the complexity of development and production of our vehicles, we want to generate economies of scale to restore our overall profitability and ensure our development in France and internationally. This project will enable us to look to the future with confidence.”
Renault sales fell 25 per cent in the first quarter of the year and dropped again in April. It is currently seeking a €5bn rescue package from the French government.
