News > Renault poised to announce 15,000 layoffs worldwide

Renault poised to announce 15,000 layoffs worldwide

Indian Express | 29/05/2020 02:32 PM | Click to read full article

Renault is poised to announce 15,000 layoffs worldwide on Friday as it unveils a plan to boost its profitability and cope with faltering sales. The French group, which is 15% owned by the government, had earlier this year flagged a looming "no taboo" plan to cut 2 billion in costs after posting its first loss in a decade last year. The French government has already said it will not sign off on a planned 5 billion euro state loan for Renault until management and unions conclude talks over the carmaker's French workforce and plants in France.