Renault will cut 5,000 jobs within four years

Grigory Matyunin 26-May-2020
ID 43246386 © Richair |

The French car production company Renault intends to save 2 billion euros by cutting 5,000 jobs by 2024 according to reports cited by Reuters news agency.

The company is waiting for the finalisation of a 5 billion euro government loan subject to an agreement with trade unions. It will not, according to reports, resort to immediate mass redundancies. The company intends to avoid replacing employees entering retirement.

President Emmanuel Macron previously announced an 8 billion euro plan to make France the world’s number one producer of ecologically clean vehicles. French producers of cars were urged to make such vehicles on French territory.

Renault, which is 15 percent owned by the French government, is estimated to employ 48,500 staff.