Renault: set to present restructuring plan

(CercleFinance.com) - Renault's management will present its restructuring plan tomorrow.


According to Le Figaro, the group is expected to announce a plan to lay off 5,000 staff by 2024. These 5,000 job cuts in France represent less than 3% of its global workforce.

This redundancy plan will priorise the non-replacement of retiring employees, Le Figaro says. The group will avoid resorting to a redundancy plan.

It seems that the core of restructuring is focused on the reduction of ranges/models and the optimisation of engineering costs. This Friday, we will find out more with details of the plan to cut costs by 2 billion euros over 3 years. The signature by the State of the State-guaranteed loan of 5 billion euros remains subject to a successful consultation between management, the State and trade unions, which will take place from Monday regarding the Maubeuge and Douai sites, Invest Securities said this morning.

Analysts also point out that the restructuring plan seems much more extensive at Nissan. The group is hence considering plant closures - especially in Europe (Spain and the UK) and nearly 20,000 layoffs (15% of its global workforce).


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