Renault to cut 14,600 jobs

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Automotive sector in crisis

The reduction will affect both the French plants, for about 4,600 workers, and those in other parts of the world

FCA, merger stop with Renault. “Political conditions are missing”

The reduction will affect both the French plants, for about 4,600 workers, and those in other parts of the world

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Renault towards cutting approx 14,600 seats work worldwide and the reduction of production capacity by almost a fifth. The restructuring plan provides for the reduction of almost 4,600 positions in France, equal to approximately 10% of the total of the car manufacturer’s employees in his home country, through early retirement and other forms of incentives, while more than 10,000 other jobs will be eliminated in the rest of the world.

Currently, Renault employs approx 180,000 people globally. The company, faced with a drop in demand aggravated by the coronavirus crisis, aims to have savings of 2 billion euros in the next three years. The restructuring plan will have an implementation cost of around € 1.2 billion. The announcement took place on Friday morning. «The difficulties encountered by the group, the great crisis through the automotive sector and the urgency of the ecological transition are the imperatives that induce society to accelerate its transformation », indicates a statement. The plan envisages “an improvement in efficiency and a reduction in plant costs” for around 800 million euros, “the optimization of production” with savings for around 650 million with a review of the global production capacity of 4 million vehicles in 2019 to 3.3 million in 2024, a “greater efficiency of the support functions” for 700 million. “In a context of uncertainty and complexity, this project is vital to guarantee a solid and lasting performance”, underlines the interim CEO, Clotilde Delbos, mentioned in the press release. The group accused its first net loss in 10 years last year.

The measures announced by the French manufacturer are only the last of a week of fire for Renault and its Japanese partners Nissan is Mitsubishi. all affected by a collapse in demand and by the blockage of factories caused by the pandemic.



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