Renault to restructure French factories in high-stakes reboot plan

This post was originally published on this site

Faced with a downturn in demand compounded by the coronavirus crisis, Renault is aiming to find 2 billion euros ($2.22 billion) in savings over the next three years as it shrinks production and hones in on more profitable models.

It said the restructuring measures – including the job cuts, transfers and retirement plans that would affect just under 10% of its global workforce – would cost 1.2 billion euros.