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Renault to cut 15,000 jobs in US$2.2B cost cutting plan

Renault to cut 15,000 jobs in US$2.2B cost cutting plan

French auto giant Renault is cutting around 15,000 jobs worldwide, including 4,600 in France, as part of a $2.2 billion cost-cutting plan over three years. The company hopes to bring about the job cuts without redundancies through voluntary departures, internal mobility measures and retraining. Its annual global production capacity will be reduced from 4 million vehicles to around 3.3 million.

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