Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Renault to cut fewer jobs than initially planned by 2024

Stock MarketsDec 06, 2021 05:41AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters. FILE PHOTO: The logo of Renault carmaker is pictured at a dealership in Les Sorinieres, near Nantes, France, September 9, 2021. REUTERS/Stephane Mahe/File Photo

PARIS (Reuters) - French carmaker Renault (PA:RENA) said on Monday it had revised down its forecast for engineering and support jobs cuts in France between 2022 and 2024 to 1,700 from the 2,000 job losses previously expected.

Renault, 15% owned by the French government, said in September it would start talks with unions on plans to cut up to 2,000 engineering and support jobs in France as it shifts into electric vehicles and hires for different posts.

"Given the increase of the number of people departing the company on a voluntary basis ... there has been a readjustment of the 2022-2024 plan's targets", a Renault spokesperson told Reuters, confirming the 1,700 figure reported by Les Echos.

Those cuts come on top of 4,600 positions Renault announced in 2020 it would cut as part of a cost reductions to stem losses.

Renault said last months it was close to reaching its target of cutting fixed costs by 2 billion euros ($2.3 billion) by the end of 2021, a year ahead of schedule. The aim is to reach 3 billion euros in cost cuts by 2025.

A union representative told Reuters the new jobs cuts figure put forward by Renault's management in its 2022-2024 plan would be submitted by unions to their members in two weeks time.

The Renault spokesperson said the 2022-2024 plan still aimed to hire 2,500 new people in different positions.

($1 = 0.8852 euros)

Renault to cut fewer jobs than initially planned by 2024
 

Related Articles

Volkswagen meets European CO2 emissions targets
Volkswagen meets European CO2 emissions targets By Reuters - Jan 24, 2022

BERLIN (Reuters) - Volkswagen (DE:VOWG_p)'s carbon emissions from passenger vehicles in 2021 were around 2% under the European target limits at 118 grams per kilometre, according...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email