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Renault announces a "vital" plan to restore its finances


Renault executives have confirmed 15,000 job cuts worldwide, including 4,600 in France, and a drop in production to reduce costs by 2 billion euros.

Renault is reducing the airfoil. The group confirmed its intention to lower its production capacities and to cut 15,000 jobs worldwide, including 4,600 in France over three years. The manufacturer said that no dry layoffs would take place. These cuts will involve retraining, internal mobility and voluntary departures. " It is our responsibility to make difficult decisions ," said Jean-Dominique Senard, chairman of the Renault board of directors.

The cost reduction plan of two billion euros, the project of which was announced last January, is " vital " underlined Clotilde Delbos, the managing director of Renault. At the end of this plan, the five brands of the group (Renault, Alpine, Dacia Samsung Motors) should only weigh 3.3 million vehicles against 4 million today. In France, the Losange could keep only two large assembly sites: Douai for individual vehicles and Sandouville for utility vehicles. The Flins (78) factory is promised to be converted within a few years.

Jean-Dominique Senard clarified that Choisy-le-Roi would be the only site to close out of the fourteen factories in France. Those of Dieppe and Caudan are, however, subject to a “strategic review”, which may ultimately result in retraining and a change of shareholder.

" We had cut our costs based on growth that never came," said Clotilde Delbos , criticizing without quoting Carlos Ghosn, the former boss of Nissan and Renault who had implemented a strategy of increasing volumes . Priority is given to our financial performance to generate sufficient cash flow ”.

Free yourself from state pressure

The trade unions are not satisfied with this financial plan which does not give a strategic course. They alerted the government to keep industrial jobs in France. A round table bringing together Secretary of State for the Economy Agnès Pannier Runacher, management, elected officials and unions is scheduled for Tuesday. The President of the Republic had told Étaples on Tuesday that the state-guaranteed loan of 5 billion euros would not be signed before this meeting.

Read also: Bertille Bayart: "The specific requirements of the State vis-à-vis Renault"

Jean-Dominique Senard estimated this Friday that the green light from the State was only a matter of the day and that in any event Renault did not need this facility for the time being. One way to get away from state pressure.

Source: lefigaro

All business articles on 2020-05-29

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