PARIS, May 25 — French carmaker Renault could unveil job cuts and plants closures on Thursday as the company looks to save €2 billion (US$2.2 billion) in costs, a representative for far-left union CGT said today. Renault has called for a meeting with unions on Thursday regarding its cost-saving...
Monday, 25 May 2020 11:00 PM MYT
PARIS, May 25 — French carmaker Renault could unveil job cuts and plants closures on Thursday as the company looks to save €2 billion in costs, a representative for far-left union CGT said today. “This is when the general management will formalise what it calls a 2 billion cost-cutting plan, in which further staff reductions and even site closures can be expected,” CGT representative Fabien Gache said in a video posted online.A Renault spokesman said that French law requires advance notice to staff representatives, adding that he was not aware of the day and the timing of the meeting.
Renault, which has been in a carmaking alliance with Japanese group Nissan for the past two decades, was rocked by the November 2018 arrest of the alliance’s architect and long-time boss Carlos Ghosn on charges of financial misconduct. Ghosn denies the charges.
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