Renault slashes 14,600 jobs as part of cost-saving plan

Renault has announced that it is cutting 14,600 jobs worldwide as part of a sweeping cost-saving plan.

The French firm has announced the measures as part of a €2bn (£1.8bn) plan following a nosedive in sales as a result of the coronavirus pandemic.

Around 4,600 of the jobs set to go will be in France and the measures will be spread over three years.

Jean-Dominique Senard, chairman of the board of directors of Renault: “I have confidence in our assets, our values and in the management of the company to succeed with the envisaged transformation and to return our Group to its full value by deploying this plan. The planned changes are fundamental to ensure the sustainability of the company and its development over the long term.

“It is collectively and with the support of our Alliance partners that we will be able to achieve our objectives and make Groupe Renault a major player in the automotive industry in the years ahead. We are fully aware of our responsibility and the planned transformation can only be achieved with respect for all our Group’s stakeholders and through exemplary social dialogue.”

However, Renault has said that it is not planning on closing any of its sites, though several will be put under review.

The announcement follows similarly sweeping measures by Alliance partners Nissan, who yesterday (May 28) revealed the closure of its Barcelona manufacturing plant and the loss of 3,000 jobs directly – a move that will impact some 20,000 families in the Catalonia region, according to unions.

Doubt had also been cast over the future of Renault’s Alpine sub-brand – the company behind the A110 sports car – though the firm has confirmed that the model isn’t being canned for now. Senard stated that the firm would “look very seriously at the future of this brand to see how it can continue to add value to the group” and that “clearly, Alpine is a wonderful brand.”