Renault to slash 14,600 jobs as coronavirus wreaks havoc on auto industry

📆 2020-05-29 7:50 AM
📰 CNN

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Renault is slashing 14,600 jobs as part of a major overhaul designed to reduce costs and help the French carmaker survive the coronavirus pandemic. Some 4,600 positions will be eliminated in France, with 10,000 more in other markets.

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The company announced Friday that it will cut costs by more than 2 billion euros over the next 3 years. It also plans to reduce the number of cars it makes each year from 4 million to 3.3 million by 2024, and will stop selling Renault-branded vehicles in China.Renault is part of the world's biggest carmaking alliance, alongside Nissan and Mitsubishi .

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This is clearly the most dastardly act happening right in the self acclaimed God's own country. it's a shame.

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