Renault cuts 15,000 jobs in major restructuring
Renault is cutting 15,000 jobs worldwide as part of a €2bn (£1.8bn) cost cutting plan after seeing sales plunge because of the virus pandemic.
“This plan is essential,” said chief executive Clotilde Delbos, who announced cuts in production to focus on more profitable car models.
Some 4,600 job cuts will be in France, and the firm said on Friday that it had begun talks with unions.
On Thursday, Renault’s strategic partner Nissan unveiled huge job cuts.
Renault, 15% owned by the French state, said six sites are under review.
The company said it would slash costs by cutting the number of subcontractors in areas such as engineering, reducing the number of components it uses, freezing expansion plans in Romania and Morocco and shrinking gearbox manufacturing worldwide.
The company plans to trim its global production capacity to 3.3 million vehicles in 2024 from 4 million now, focusing on areas like small vans or electric cars.