French carmaker Renault announces 15,000 job cuts worldwide
PARIS (AP) — French carmaker Renault has announced 15,000 job cuts worldwide as part of a 2 billion-euro cost-cutting plan over three years. Renault said on Friday that nearly 4,600 jobs would be cut in France in addition to more than 10,000 in the rest of the world. The group’s global production capacity will be revised from 4 million vehicles in 2019 to 3.3 million by 2024. Renault came into the virus crisis in particularly bad shape: Its alliance with Nissan and Mitsubishi is a major global auto player but has struggled since the 2018 arrest of its longtime star CEO Carlos Ghosn.